NFT Membership Platform Hang Raised $16M in Series A Led by Paradigm

NFT membership platform Hang announced that it has closed a $16m Series A funding round led by Paradigm, with participation from Tiger Global, Thirty Five Ventures, Night Ventures. The fund raised will be used to double down on the expansion of the product, engineering and go-to-market teams. Hang's platform aims to help brands set up membership rules, add benefits and rewards and connect third-party services. The membership programs utilize NFTs to incentivize customers and build connections between brands and customers. So far, Hang has partnered with global brands including Budweiser, Pinkberry and Bleacher Report.