TechFlow News — On July 31, according to The Block, JokeRace, a blockchain-based competition platform, announced it has raised $3 million in funding led by Maven 11, with participation from around 30 angel investors. Developed by a three-person team, JokeRace offers a no-code solution that enables blockchain projects to quickly launch contests, debates, and hackathons to incentivize community engagement.
Originally launched as a social media experiment to determine who could post the funniest joke, JokeRace has since gone live on over 90 EVM-compatible chains and has been adopted by prominent brands such as Polygon, Farcaster, and Bankless. The team plans to use the newly raised capital to expand marketing and business development efforts, aiming to achieve product-market fit and enhance user experience.
"Over the past year, we've focused on building our core product, listening to user feedback, and collaborating with key players in the ecosystem, making significant progress," said David Phelps, co-founder of JokeRace. The team aims to promote broader participation by ensuring users benefit from the platform's growth through incentive mechanisms.
