Libraro, a blockchain startup, has secured £2m equity funding for its platform that connects publishing houses and literary agents with new writing projects. Aspiring writers can post their work on the Libraro platform, which can be accessed by publishers to invest in projects that have gained a strong following. The platform uses blockchain technology to ensure the integrity of the platform and protect the literary rights of uploaded material. The funding came from blockchain software and consultancy firm nChain, which took a 20% stake. The majority of the funding will go toward product development, with Libraro forecasting £5m in recurring revenue and 500,000 users post-funding.
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