This week,PapayaHub, a platform for investing in the webcam market, raised $128 million from the FBG Capital venture fund. Financing was also supported by other venture funds — Paradigm, Sequoia Capital and IDEO Colab Ventures. Among the business angels were Naval Ravikant and Andrew Keys.
“We are pleased to support the PapayaHub team, which has been integrating the traditional business into the world of cryptocurrencies for 2 years. We can already see the results now — the webcam business has become one of the most profitable and popular areas for cryptocurrency investments,” said Jingcheng Li, managing director of FBG Capital.
Today, through PapayaHub, you can deposit BTC, ETH, USDT, and other cryptocurrencies in the development of Europe’s largest network of webcam studios with a yield of 180% per annum. At the heart of the platform’s business success lies the studio’s in-demand content, the broadcasts of which lead in views in popular categories on the 20 largest webcam sites. Such a business brings in $40 mln in net profit daily and covers more than 800 mln interested viewers.
What will the investment in PapayaHub be used for?
FBG Capital’s financing will be used to expand the PapayaHub studio network to the US market, which in the future will increase business revenues and allow its investors to generate even more passive profits.
“PapayaHub now includes 89 studios across Europe, and by 2023 we plan to open just as many in the United States. Renting new premises, taxes, hiring new models and organizing high-quality broadcasts in a new location – all of this requires investment.
We are grateful to our private and institutional investors for the support they provide to our business. We, in turn, will not remain in debt and will pay fair rewards for their help,” said Ewan Baldwin, co-founder of PapayaHub.
According to Ewan Baldwin, entering the US market will not only increase the potential profit, but also allow the platform to be closer to its private investors. Record high inflation is forcing many Americans to postpone retirement, noting that more and more people are starting to look for income outside the traditional financial ecosystem.
FBG Capital’s investments will help integrate PapayaHub into the financial life of ordinary Americans, many of whom are ready to invest in the development of the studio from $5,000 even now.
Among users around the world, investments in PapayaHub were widespread mostly among those aged 25-50 years, who deposit an average of 20% of all their tokens. The data collected by the platform during its first entry into the private market in December 2021 showed that average payments over the last year months increased by 216%. FBG Capital‘s investments are expected to increase the average return by another 30%.
Disclaimer: This is a paid post and should not be treated as news/advice.