Venly secures €21 million as it seeks to bring more users into Web3
Venly, a major blockchain technology provider from Belgium, recently announced it has secured over €21 million (£17.6 million) in Series A funding, led by Courtside Ventures with participation from Transcend Fund, Coinbase Ventures, Tioga Capital, High-Tech Gründerfonds, Fortino, Plug and Play, Leadblock Partners, Imec Istart, and Alpaca VC.
The company will use the funding to develop products centered around new benefits to Web3 users, with a close focus on gaming as well as eCommerce.
Veny creates powerful tools and products empowering Web2 businesses to leverage Web3 technology and integrate it seamlessly into their own business processes without sacrificing user experience or security.
Their intuitive API platform delivers innovation to prominent companies in the blockchain gaming space, including The Sandbox, Aavegotchi, Bondly, Shopify, and other industry leaders.
Venly raised Series A to spearhead their growth further into two industries. Venly will focus on deeper platform integrations within the Gaming industry, so that game studios and publishers can leverage Web3 through a fully compliant no-code solution. eCommerce will be the next priority, representing a strong fit for Venly who has already launched a powerful Shopify integration.
Next to this, Venly will launch an accelerator track for game studios and Web3 startups to support the entire blockchain ecosystem. Startups will be able to use Venly licenses at a discounted rate while getting guidance and investments from the Venly Accelerator team and ecosystem of partners.
In the coming months, Venly will focus on hiring top talent to continue spearheading innovation, as well as striking new partnerships with industry players. In this sense, launching the accelerator track (aka “Venly Accelerator”) will bring new connections, too.
On the tech side, Venly will be incorporating robust gaming SDKs (Software Development Kits), making gaming its most immediate focus due to fast scaling opportunities. Next, the company will be further developing its marketplace for next-level user experience. By fortifying eCommerce integrations (such as the one that allows Venly users to sell NFTs through Shopify), Venly is signaling its clear focus on eCommerce in the long run.
On the operations side, Venly will also be launching the VENS Token, an internal token to drive loyalty and engagement of the Venly Market users. It will also continue to work hard to keep meeting global compliance requirements.
“The problem today is that most developers and end-users have difficulty interacting with Web3 technology. It needs to be more aligned with Web2 usability, which is exactly what the Venly platform provides. Our APIs and services allow a Web2 company to seamlessly integrate with Web3,” says Tim Dierckxsens, CEO of Venly. “Moreover, we want to focus on our marketplace for the mainstream users. The Venly NFT marketplace is easier to use than any other platform out there.”
“The Venly platform offers game developers the ability to easily launch Web3 experiences,” said Kai Bond, Partner at Courtside Ventures. “We believe that the next big growth in the NFT ecosystem will come from mainstream users interacting with their favorite IP.”