Baidu Ventures is one of several Chinese tech firm that have participated in the seed round for a multi-million dollar investment in San Francisco-based blockchain project Atlas Protocol.
SB China Venture Capital (SBCVC) led the the seed round of investment, with Danhua Capital and Fenbushi Digital also taking part alongside Baidu Ventures according to an official statement from Atlas Protocol.
Atlas Protocol seeks to use the blockchain to improve interactive advertising and marketing opportunities, via smart user targeting based on a ranking algorithm and new forms of “onchain market interaction” that include brand advertising and viral gaming.
Nebulas Labs and x Googler Blockchain Alliance (xGBA) were responsible for incubation of the project.
The founders of Atlas Protocol are Duran Liu, former head of Nebulas Labs, and Cheng Li, former senior software engineering at Google NYC, while Nebulas-founder Hitters Xu and Jide Technology-co-founder Jeremy Zhou are also on board as key advisors.