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Blockchain-based Community Forecasting Platform Yuyan Wins Seed Funding

36Kr.com, 7/18/18

Beijing-based Xinlian Technology, operator of blockchain-based community-based forecasting platform Yuyan, recently announced completion of seed funding from Shanghai-based Tokenmania Asset Management (TAMC), Kylin Capital, Huixiang Fund, Imagination Fund, and Hayek Capital.

Yuyan is a community-focused prediction market based on Ethereum blockchain technology and aims to function as a knowledge-sharing community. Platform topic areas include digital currencies, sports matches, entertainment and games, financial futures, auctions and quizzes. Users who make correct predictions can earn SPX token prizes and increase their personal forecasting rating.

Yuyan recently organized a "forecasting star" promotional activity aimed at developing 101 leading forecasters. Li Suyong, founder of Yuyan, said that following the activity the platform's registered users now exceed 1 mln and it has processed nearly 180,000 Ethereum chain write transactions. Average daily online time for active users is approximately 28 minutes.

Yuyan is currently at the beta testing stage and has already launched a web-based platform interface. Li Suyong said that the platform also plans to release a mobile client.

Keywords: Xinlian Technology Tokenmania Kylin Capital Huixiang Fund Imagination Fund Hayek Capital VC Li Suyong Yuyan Internet funding blockchain angel funding

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