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The NFT-focused startup Revise announced a seed funding round of $3.5M. Accordingly, the funding was led by Alpha Wave Global.
The company will use the funds in order to innovate interactive NFTs. The founding duo will take smart contract tech to the next level, thereby increasing its utility into the new Web3 world.
Revise raises $3.5M to push NFT innovation further
Revise, a relatively new company on the NFT scene, has just received $3.5M from top investors in the market. The biggest names on the list are Polygon‘s Sandeep Nailwal, the Bharat Founders Fund, and AngelLixt’s Utsav Somani.
The seed funding round will help Revise explore the NFT’s utility beyond a basic joeg image. All in all, the founding team aims to create interactive digital assets.
Here’s a basic example: let’s assume you own the tennis NFT of a famous real-life player. Every time the tennis player wins a match, the properties of your NFT change accordingly. This upgrade would also modify the value of your collectible.
In fact, we already see such interactive NFTs in the gaming industry. To illustrate, you can think of trading card NFTs or in-game characters that level up,
However, this is just one of the many utilities the Revise founders wish to explore.
NFTs: beyond a basic PFP digital asset
“Today, if you think of an NFT, you think of a static image. We want to change that perception,” says Revise Co-founder Raunaq Vaisoha. “NFTs are much more than that. It’s a format of ownership. it’s getting into gaming assets, movie, music, and all kinds of different things. But to enable that, we need better programming for the utility.”
The team behind Revise consists of two Mumbai-based entrepreneurs: Anil Dukkitpatty and Raunaq Vaisoha. The duo launched the startup in January 2022. Surprisingly, their team already needs to expand in order to handle the growing wave of clients.
As a result, Revise will use part of the seed round funding to hire up to 30 additional experts. Together, the powerful team aims to innovate NFTs and introduce their tech to new use-cases.
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