Venly, a crypto startup based in Belgium that supplies technology to e-commerce brands and gaming platforms, recently announced a $23 million Series A fundraising round.
Courtside Ventures led the round, which included Transcend Fund, Coinbase Ventures, Tioga Capital, and others.
Venly, which was created in 2018, links wallet and NFT goods with a brand’s blockchain, regardless of the blockchain (though Venly partners include Polygon, Binance, Avalanche, and Hedera). The startup plans to use the fresh money to establish “deeper platform integrations” with gaming and e-commerce platforms.
Incorporating gaming software development kits is one area of focus, with the company “making gaming its most immediate priority owing to fast scaling prospects,” according to a statement.
Another project in the works is an accelerator for game studios and Web3 entrepreneurs, which will allow them to receive mentorship from Venly’s staff and partners as well as reduced access to Venly’s technologies.
The business is also developing an internal currency called “VENS” that will be used to reward customers that utilise the Venly marketplace to purchase, sell, and bid on NFTs. At the conclusion of each month, users who place on a leaderboard will receive USDCs.
With about 2.5 million wallet users and $1.5 million in income, the company is a success. Venly had previously raised $2 million in funding. The team presently employs 36 full-time employees, with plans to hire more in the future months.
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