The on-chain clearinghouse KOR Protocol completed a $7.5 million Series A financing at a valuation of $100 million, with participation from 1kx and others

According to The Block, the entertainment sector on-chain clearinghouse KOR Protocol announced the completion of a $7.5 million Series A financing round, with a valuation of $100 million. Investors include 1kx, Blockchain Capital, as well as previous investors Republic Crypto, Sfermion, Alumni Ventures, and SevenX.

KOR Protocol is building an on-chain creative asset clearing platform for the registration, verification, and settlement of creative works such as music and film, and will provide programmable revenue sharing to creators and rights holders through stablecoins like USDC.

KOR stated that this round of funding will be used for platform development, ecosystem growth, and partner integration, and plans to launch a token.