SCB 10X, the venture investment arm of Thailand’s SCBX group, announced Tuesday that it has invested $1.5 million in the seed round of Token Unlocks, a comprehensive token vesting dashboard and tokenomics insights platform.

In a statement, SCB 10X said its investment will amplify Token Unlocks’ ability to provide transparency and education on tokenomics data, as well as highlight potential market price impacts from token lockup expirations of the top DeFi and Web3.0 projects.

According to the statement, Token Unlocks will use proceeds from this seed funding round to expand its team across the globe to drive further growth to the platform.

Token Unlocks is a platform provides structured and labeled on-chain and off-chain tokenomics data, as well as tailored on-chain monitoring to track token projects.

The firm enables intuitive and actionable data visualization to connect and align various stakeholders.

Token Unlocks’ on-chain data analytics dashboard helps mitigate the need for trust on the protocol level.

It offers tools that track vested tokens, as well as alerts users on upcoming token unlock periods and token information from multiple DAOs.

Utilizing Token Unlocks’ dashboard, traders are able to make educated investment decisions based on the most accurate token information and track the dynamic changes of a project.

“Token Unlocks provides the most transparent, accurate tokenomics data that is critical for analysis,” said Mukaya (Tai) Panich, Chief Executive Officer and Chief Investment Officer of SCB 10X.

“Evaluating a project’s tokenomics prior to investment is crucial for investors and stakeholders, as whitepaper tokenomics and actual on-chain implementation can vastly differ,

“Investing in a tokenomics insights platform that offers unparalleled access to on-chain metrics and information reflects SCB 10X’s mission of expanding the disruptive potentials of blockchain technology,” she added.

According to the statement, global spending on financial market data and cloud-based software continued its decade-long growth streak with revenues jumping 7.4 percent to a record $35.6 billion in 2021 and forecasted to grow 4 percent year on year to $37 billion in 2022, demonstrating the growing need for transparent market data providers, such as Token Unlocks.

As part of the “Moonshot Mission”, which aims to create long-term value through investing in high potential tech startups globally, SCB 10X focuses on digital assets, blockchain, the metaverse, and Web3.0.

Data and data analytics of Web 3.0, in which Token Unlocks is playing a significant role, are the key investment areas of SCB 10X.

“Trust and transparency are the key to sustaining the long-term growth for Web3.0, DAOs and all crypto projects. Our platform provides a tool to service the data that is much needed within the industry,” said Tanawat (Poom) Chiewhawan, Chief Executive Officer and Founder of Token Unlocks.

“SCB 10X’s values in achieving exponential growth through technology innovation align with those of Token Unlocks,

“SCB 10X supports our platform with growth, partnership introductions and incubation assistance in addition to their investment and for that, we are really grateful,” he added.

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