Gate News message, April 28 — Nuva Digital, co-incubated by Animoca Brands and Nuva Labs (formerly Provenance Blockchain Labs), has closed a $5.2 million seed funding round to build Nuva Finance, its real-world asset yield platform. The round was led by Morgan Creek Digital, with Ulu Ventures as a major investor.
As part of the funding, Sachin Jaitly, general partner at Morgan Creek Digital, joined Nuva Digital's board alongside Mike Cagney, co-founder and executive chairman of Figure Technologies, and Yat Siu, co-founder and executive chairman of Animoca Brands. The round was structured as a priced Series Seed equity round with token warrants.
Nuva Finance enables users to earn yield through vaults holding real-world or tokenized assets. When users deposit USDC, the vault issues nvAsset tokens representing proportional ownership. The platform initially offers nvYLDS and nvPRIME vaults backed by Figure Technologies' onchain RWA assets: YLDS, a U.S. SEC-registered yielding stablecoin security, and HELOCs, home equity loans with over $16 billion funded to date.
The self-custodial platform aims to disrupt traditional alternative asset models by connecting asset issuers and users directly. Nuva Digital also plans to launch a NUVA utility token, though timelines for both the platform and token launch have not been disclosed.
