Web3 identity protocol Shards Protocol completes $2 million financing, Animoca Brands and others participate

On June 4, according to Crypto.news, the Web3 identity protocol Shards Protocol completed a $2 million funding round, with institutions such as Animoca Brands, Kyber Ventures, and Yield Guild Games participating. The funds will primarily be used to develop its flagship product Aura—a system that converts users' on-chain activities into verifiable reputation and rewards. As a Web3 reputation layer, Aura allows users to showcase their on-chain activity reputation scores and badges through the X platform. The system plans to launch tokens and expand features this year, with users able to unlock rewards by minting more badges. This funding will accelerate the protocol's integration into the Web3 ecosystem.