NFT marketplaces have over 100 million unique visitors each month, indicating a sharp increase in interest in the Web3 market. Web3 funding increased dramatically in 2022 despite the crypto bear market. TechInsight360 expects continued growth in the Web3 funding in the year 2023. The startups will continue to attract funds for innovations in development of Web3 technologies and streamlining process to augment adoption of Web3.
A recent analysis by PayNXT360, reported a Y-o-Y increase of over 167% in funds raised by startups in 2022 over 2021. This was targeted at artificial intelligence, augmented reality, metaverse infrastructure and virtual reality.
Read more at:
https://www.techinsight360.com/view-point/venture-capitalists-continue-to-in/35
US-based Redeem, a Web3 technology provider, has streamlined the onboarding procedure by giving consumers the ability to use their phone numbers to send and receive non-fungible tokens (NFTs) using WhatsApp, SMS and Apple’s iMessage. This can prove to be helpful for corporate organizations who wish to minimize cost and promote engagement with new users through Web3 without sophisticated or hazardous crypto processes.
Customers can scan a QR code to redeem useful NFTs such as tickets, reward points, in-game goodies, by linking crypto wallets to their phone numbers on any network. Moreover, use of personal phones for transacting in NFT’s also instantly blocks all bots and minimize frauds. By tying NFTs to what people are already familiar with, Redemption eliminates the requirement for users to learn new systems or modify their behaviour. Phone numbers are all the users need to access everything including gaming, eCommerce, and metaverse. The feature will allow customers to utilise Web3 even if they are completely new to cryptocurrencies and blockchain technology.
Pre-seed funding for the venture totalling $2.5 million raised by Redeem was led by investment company Kenetic Capital, and others including VC3 DAO, Flyover Capital, KCRise Fund, Monochrome Capital, KESTREL0x1, and The Fund. The company intends to use the funds to continue refining its core technology in preparation for its planned Q2 product launch.
Read more at:
https://www.techinsight360.com/view-point/firms-are-launching-innovative-nft/41
Recently another Web3 start-up, Nealthy, announced the completion of a pre-seed funding round in which it raised US$1.3 million. The investment round was supported by DonGeraldo together with other Web3 investors. The Web3 startup operates an Ethereum-based platform that gives interested customers different levels of exposure to NFT and cryptocurrency investments. Nealthy intends to use the money to grow the team by employing professionals to work on designing the platform with more client options. Also, Nealthy plans to use the money to increase sales and support platform development.
Nealthy distinguishes itself from competing platforms by providing solutions to a few frequent issues in the Web3 industry. Although interest in Web3 has significantly increased, most of these markets have tough entrance requirements for potential investors. The Nealthy platform will enable the investors concerned about these restrictions can now access the Web3 space with ease.
Moreover, the average customer usually finds it challenging to invest in Web3 because of the considerable sums needed, especially to buy some NFTs. With the new fundraising round at its disposal, Nealthy will overcome difficult entrance barriers by providing users with index tokens that operate like exchange-traded funds (ETFs). Index tokens, hence, will enable users to diversify their portfolios with more resistance to unexpected market changes.
The Web3 environment is rapidly growing and changing, and authorities are finding it challenging to stay up. As a result, they are generally unable to develop legal frameworks that sufficiently safeguard consumers. The Web3 space is expected to witness further changes in terms of simplification of the NFT trading and exchange processes to thrive the
NFT adoption.
Comments
Post a Comment