NFT Certification Platform Wakwelli Raises US $1.1 Million in Seed Funding

02/28/2023 15:46 • Tech Trends • 115 views

On February 28, the NFT certification agreement Wakwelli announced the completion of US $1.1 million seed round financing, with the participation of blockchain investment companies Summit, Funfair Ventures and a number of angel investors.

NFT certification agreement Wakwelli completed $1.1 million seed round financing, and Summit and others participated in the investment

Analysis based on this information:

Wakwelli, a blockchain-based NFT certification platform, recently announced the successful completion of its seed round financing raising US $1.1 million. This funding round was led by blockchain investment companies Summit and Funfair Ventures, along with the participation of angel investors. The funding received by Wakwelli will aid in the development and growth of its platform.

Wakwelli provides certification services for NFTs, or non-fungible tokens, which are unique digital assets that cannot be exchanged for each other. NFTs have seen widespread adoption in recent years, particularly in the art world, where they have been used to certify and tokenise pieces of art. The certification of NFTs ensures the authenticity and uniqueness of these digital assets, giving buyers peace of mind and protection against fraud.

The need for NFT certification has grown in line with the increasing popularity and value of these digital assets. In February 2021, a digital artwork by the artist Beeple sold for US $69 million, making it the third-highest auction price ever paid for a work by a living artist. The piece was sold as an NFT, with the proceeds going towards the artist’s already established reputation in the digital art market. As the value of NFTs continues to rise, so does the need for certification platforms such as Wakwelli.

The participation of Summit and Funfair Ventures in Wakwelli’s seed funding round is a promising sign for the platform. Summit, in particular, is a well-known name in the blockchain investment space, having previously invested in companies such as Ethereum, Desmos Networks, and Algorand. Funfair Ventures is also an experienced investor in the blockchain sector, having invested in companies such as Ocean Protocol, Ethernity Chain, and ChainGuardian.

In conclusion, the US $1.1 million seed funding raised by Wakwelli is a positive sign for the platform and the wider NFT certification industry. As the value and adoption of NFTs continue to grow, the need for certification services such as those provided by Wakwelli will only increase. With the backing of experienced blockchain investors such as Summit and Funfair Ventures, Wakwelli may be well-positioned to capitalize on this growing market.

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