PwC launched the latest iteration of its Scale program which links large organizations with startups, or in this case scale-ups. It chose 11 startups from 700 applications in the tokenization and digital asset space. PwC collaborated with GrowthBuilders to provide support including for sales and marketing. However, the most valuable element is the introduction to large enterprises within the PwC ecosystem.
Several of the startups fall into two categories: firms providing identity-related services and tokenization solutions. On the identity front, they include Archipels, Trust Stamp, Truvity and Vidos. The tokenization platforms include veterans such as Vertalo alongside Spain’s Brickken and California’s Zoniqx.
Other tokenization offerings are more specialist such as Hedgeguard, a fund tokenization protocol. It doesn’t just take a fund and tokenize it. It also includes portfolio management and middle office tools.
Venly is a classic example of a startup pivot. When we wrote about the startup’s $23 million fundraising two years ago, its solutions included a digital wallet, an NFT marketplace and NFT tools to help with drops. While its target markets of games and entertainment have expanded to e-commerce, today there’s more emphasis on wallets. There’s no mention of NFTs, a sector currently struggling. Starbucks has pulled back. Nike had great success during the NFT boom, but its .Swoosh initiative has fizzled somewhat.
Rounding out the Scale group is web3 risk management solution Alterscope and digital asset custody tech provider Custodiex. It claims to provide ‘true cold storage’ with real-time access.
Meanwhile, amongst the Big 4, PwC is perhaps the highest profile in web3, particularly in Asia. In terms of tech development, EY has made significant contributions towards making permissionless blockchains more usable by corporates.
