Belgian blockchain-based tool provider Venly has raised €23 million ($23m) in a Series A round of funding led by Courtside Ventures and ten other venture capital firms. The company provides NFT solutions for well-established names, including metaverse The Sandbox, Bondly and previously Ubisoft.
The company was founded in 2018, previously under the name of Arkane Network, with the goal of creating tools and products that help companies benefit from and adopt blockchain technology. Initially, it focused on targeting gaming companies and helping incorporate their product into Web3. Now, it is looking to target the eCommerce sector.
Venly currently provides a digital wallet, a non-fungible token (NFT) marketplace, and other NFT tools to facilitate and improve drops. Use cases include onboarding gamers, minting and selling NFTs, digital asset custody, and building a game inventory system. It says its wallet stores more than $1 billion in assets.
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