Bitmark, a blockchain-focused digital property right start-up, has raised $3 million in a funding round hosted by HTC, Alibaba, and the Taiwanese electronics giant.

As per a press release published on September 3^rd, Bitmark will purportedly use these funds to boost its sales and improve the marketing efforts.

Alibaba, DCG and WI Harper also invest

Venture capital firm WI Harper, crypto-based investor Digital Currency Group, and Chinese e-commerce giant Alibaba, all participated in the first funding round.

The decentralized chief officer at HTC, Phil Chen, said that the funds received by the companies are at the core of its strategy for bringing power back to the global end users.  

“Bitmark’s system for digital property rights greatly expands the promise of blockchain technology by assigning unique ownership for digital assets of all types. It’s an important step in growing the blockchain ecosystem and we look forward to their growth and success,” he added.

Bitmark has overseen notable success with partners like Asia’s largest music network, KKBOX, by granting its Bitmark Property System to them in order to record rights of digitally streamed music. Other companies like tech firm H2, the pharma giant Pfizer, and University of California, Berkeley, are also leveraging its technology.

Currently, HTC is developing an affordable version of its smartphone which supports Bitcoin (BTC), called Exodus 1S, to be released in late 2019. The firm claims that the device is the first of its kind to support full node capability. after announcing this in May, HTC launched an in-wallet crypto trading for users of its original Exodus 1 phone.