The blockchain provider Venly secures $ 22 million in series A to develop web3 products
The blockchain provider Venly secures $ 22 million in series A to develop web3 products
- The Belgium-based company Venly will use the funds to expand his team, to develop web3 products and to set up an accelerator track
- Venly develops blockchain-based products, including a digital wallet, NFT tools and marketplace services for companies such as The Sandbox and Shopify
The blockchain technology provider Venly based in Belgium has received 23 million euros (22.1 million US dollars) with the capital for the development of its web3 products.
The latest round increases Venly's post-money rating to over $ 100 million, a company spokesman told Blockworks.
According to a press release on Wednesday, Transcend Fund, Coinbase Ventures, Tioga Capital, High-Tech founding funds, Fortino, Plug and Play, Leadblock Partners, IMEC.ASTART and ALPACA VC.
Venly said that it will use its fresh capital for researching and developing products that would offer users advantages that deal with the web3 infrastructure with a focus on games and e-commerce.
Venly, formerly known as Arcane Network, develops blockchain-based products, including a digital wallet, NFT tools and marketplace services for companies such as The Sandbox, Aavegotchi, Bondly and Shopify.
The emerging company records around two and a half million wallet downloads every year and employs around 39 people, said the spokesman.
Venly said that it intends to offer game studios and publishers a "no-code" solution for web3 users and to promote its e-commerce NFT integrations with Shopify.
"The problem today is that most developers and end users have difficulty interacting with web3 technology," said Tim Dierckxsens, CEO of Venly. "It has to be geared more towards Web2 user-friendliness, and that is exactly what the Venly platform offers."
In addition, an accelerator track for game studios and web3 startups is set up, which offers support and investments from the company of the company and the partner ecosystem in accordance with the publication.
"The Venly platform offers game developers the opportunity to simply start web3 experiences," says Kai Bond, partner at Courtide Ventures. "We ... believe that the next large growth area in the NFT ecosystem will come from mainstream users who interact with their preferred IP."
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The contribution Blockchain Provider Venly NABS $ 22M in Series a to Build Web3 Products is not a financial advice.