We're excited to announce that we're investing in Venly!

The rise of Web3 has undeniably changed the status quo. New solutions are transforming the new digital economy, an economy that allows users to retain the value they create for the ecosystems they interact with, mainly through the use of decentralized blockchain technologies. In this scenario, the popularity of NFTs has exploded with record-breaking, multimillion-dollar sales. From Bored Apes to in-game assets, NFTs have become a force to reckon with, reaching sales of over $25B last year.

Venly Looks to Build Both Developer-Friendly Products and an Intuitive Interface for End-Users

So what does this mean for brands? Companies like Nike and Disney have already started to position themselves by dropping their own NFT collections, issuing their tokens and creating distinct blockchain projects. However, most of them are not ready to develop NFTs and bring Web3 experiences to the market. Not all companies will be custody providers or provide digital asset management. This transition requires an adaptation process to integrate Web3 capabilities into existing platforms and applications, which leads to a new user experience. And just as companies struggle, many of their customers are not tech-savvy and will need help managing and securing their crypto assets. Thus, bringing non-crypto users onto the blockchain world becomes a significant challenge for Web3 platforms.

These are problems that Venly focuses on solving. Venly is a blockchain agnostic technology provider creating tools and products that empower Web2 companies to leverage Web3 technology and integrate it seamlessly into their business processes. As a result, end-users can benefit from blockchain technology without needing to compromise user experience or security. Venly's product offering includes many solutions, including wallet services, a marketplace and NFT management tools, among others.

Venly has experienced great success so far, especially in the metaverse and gaming space. They've played a significant role in onboarding users to popular platforms like The Sandbox and launched one of the first collections of interoperable NFTs, which function across different blockchain platforms. Moreover, they've recently managed to close critical partnerships that will help consolidate their position in the gaming and e-commerce markets. They've created a Unity plugin that allows game publishers to integrate blockchain capabilities in games, and partnered with Shopify, with whom they will allow merchants to sell NFTs.

With a combination of technical and former founder experience, the Venly team has leveraged their expertise around blockchain, cloud technology and NFTs accordingly. When we met Tim and his team, we understood their vision to build developer-friendly products and an intuitive interface for end-users. We believe that to reach mass adoption, Web3 platforms will need to become incredibly intuitive and easy to operate. We envision a future where users won't need to know the exact dynamics of blockchain or deal with the complexities of using a crypto wallet. We want to invest in tools and platforms that will easily help onboarding users into Web3 projects.

Meet the Team at Venly

We're thrilled to be part of the round alongside other major investors, including Courtside Ventures, Transcend Fund, Coinbase Ventures, Tioga Capital, and others. We cannot wait to see what they will achieve collaborating on new blockchain projects. Welcome to the Plug and Play family!