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Gaming startup raises bitcoin funding from Vinny Lingham on SA's Shark Tank

28 Nov 2016

Augmented reality gaming startup Augmentors raised funding from Vinny Lingham on the South African Shark Tank television show, with the investment made in bitcoin.

Gaming startup raises bitcoin funding from Vinny Lingham on SA's Shark Tank

©adrianhancu via 123RF

Lingham, who has founded companies like Gyft and Civic and is an angel investor in a number of South African startups, is a bitcoin evangelist, has invested R500,000 in the startup.

However, in a twist, he said the developers of Augmentors were trying to solve a problem around “creating rarity”, and that this would be solved using blockchain technology.

Lingham thus made the investment in bitcoin – approximately 59 of them – in return for a 20 percent stake in the company.

“I love gaining, AR and the team, and I think using the blockchain to create transferrable and unique in-game assets is really the future of gaming,” he told Disrupt Africa after the event.

Source: Disrupt Africa

Disrupt Africa is a one-stop-shop for all news, information and commentary pertaining to the continent’s tech startup – and investment – ecosystem. With journalists roaming the continent to find, meet, and interview the most innovative and disruptive tech startups, Disrupt Africa is a true showcase of Africa’s most promising businesses and business ideas.

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Tom Jackson

About Tom Jackson

Co-founder @DisruptAfrica. Tech and business journalist in Africa. Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.