XCHNG, a Cayman Islands-based open source blockchain framework for the digital advertising ecosystem, received an investment from Hashed, a global blockchain investments fund.
The amount of the deal was not disclosed.
The company intends to use the funds to include additional private presale partners and continue its current efforts in establishing OnXCHNG partners and building out the protocol leading up to a sandbox launch, anticipated for Q3 2018.
XCHNG is an open and unified blockchain-based framework for the digital advertising ecosystem designed and deployed by Kochava Labs SEZC, a research and development subsidiary of Sandpoint, ID-based Kochava Inc.
Centered around a common Ricardian Smart Contract with an open blockchain implementation to persist transactional history and provide supporting utilities required for maximizing efficiency, the XCHNG framework is designed to enable the related targeting and activation of audiences, bolster ad-spend efficiency and transparency, and establish a next-generation system of record for all participants.
As one of South Korea’s first crypto assets funds, Hashed focuses its investment strategy on high-performance blockchain protocols that are applicable to industry. Hashed’s largest holdings currently include major blockchain projects, including EOS, OmiseGO, Ethereum, and Kyber Network.