Solo Ceesay, a 27-year-old ex-Citi investment banker, has paired up with the NBA player Spencer Dinwiddie to launch a new Web3 company.

Their app, called Calaxy, has raised $26 million in a strategic funding round led by Animoca Brands and HBAR Foundation this June.

Calaxy is a next-generation social marketplace for diverse creators to monetize their communities.

Ceesay told Insider the app works "like Patreon and OnlyFans." But rather than using dollars, Calaxy allows creators to "launch their own cryptocurrencies that fans can purchase and use in exchange for their content. Creators can set their own pricing and decide what they want to offer to their fans," he continued.

Ceesay and Dinwiddie first saw a business opportunity in Web3 after Ceesay used his investment-banking expertise to help Dinwiddie securitize a $34.4 million NBA contract using ethereum.