Nefta secures $5 million seed investment, led by Play Ventures - Business Leader News

Nefta secures $5 million seed investment, led by Play Ventures

Nefta, the Web3 technology platform, has announced a $5 million seed round, led by Play Ventures. This latest round of funding follows an initial investment of $1 Million from Picus Capital in June 2022.

Play Ventures, a leading VC which invests in the most promising Web3 and free-to-play game studios from across the globe, invested a total of $2.5 million, the single largest investment from its Future Fund, an early stage investment initiative. Additional investors include SevenX Ventures, Sfermion, MZ, Polygon Ventures, and reinvestment from Picus Capital. With investment from around the globe, Nefta has gained huge support and knowledge from those operating internationally in the gaming, Web3 and AdTech industries.

Founded in 2022, Nefta has rapidly expanded in the Web3 space, offering a complete end-to-end solution for companies looking to build, launch and grow high-quality Web3 games. The team, made up of ex-GooglePlay, Adcolony, Outfit7, Admix and Metanomic employees, has a wealth of industry experience, providing the skills and knowledge to handle the complexities of Web3, leaving its partners free to focus on building great products.

Nefta has gained attention in the blockchain gaming space for its one-stop-shop Web3 toolbox and white label solution, and will be launching its Web3 advertising network in Q1 2023. The new advertising tech utilises the integral privacy of Web3 to keep user data protected, while leveraging public blockchain data to ensure that advertisers and publishers increase ad revenue and reach the right audiences.

Since its founding in 2022, Nefta has entered into a range of partnerships with businesses who share their passion for making the world of Web3 more accessible. Current partnerships include blockchain gaming studios MoonGaming, VIKER and GAMI, with many more to come throughout 2023. While primarily focused on gaming, Nefta’s tech stack has caught the interest of companies in the music, beauty, festival and other industries looking to scale their Web3 strategies.

Nefta will use this round of funding to expand its business and team, grow its market presence and realise its vision of being the go-to platform for great Web3 solutions.

Geeshan Willink, Founder of Nefta, said: “Play Ventures has one of the best portfolios in the world for gaming and Web3. Receiving one of the largest investments from its Future Fund demonstrates their conviction in our team, products and vision. With their support, we’re able to power the next evolution of game economies, showcasing the benefits of blockchain to help our partners build, grow and scale Web3 ecosystems.”

Kenrick Drijkoningen, GP of Play Ventures, said “We’ve seen outstanding progress from Nefta since their inception in 2022. They’ve grown at a rapid pace, and their Web3 end-to-end building and scaling platform has already generated huge industry interest. Nefta was a natural investment choice for us, and their tool box will be an invaluable support to other members within the Play Ventures community.”