PANews reported on June 4 that according to Crypto.news, the Web3 identity protocol Shards Protocol has completed a $2 million financing, with participation from Animoca Brands, Kyber Ventures and Yield Guild Games. The funds will be mainly used to develop its flagship product Aura, a system that converts user on-chain activities into verifiable reputation and rewards.

Aura is a Web3 reputation layer that allows users to display reputation scores and badges earned through their on-chain activities through the X platform. The system plans to launch tokens and expand functions within the year, and users can unlock rewards by minting more badges. This financing will accelerate the integration of the protocol in the Web3 ecosystem.