NFT3 Has Gained $7.5M Led By Animoca Brands
NFT3 announced its successful funding rounds
NFT3 is building the First Unified Decentralized Identity and Credit Network for Web3, acting as a unified identity across all Web3 application layers and a pathway toward enabling personal monetization in the emerging Metaverse.
NFT3 will become a direct monetization path for individuals to associate value on their terms with various aspects of their data journeys through life with different projects, individuals, social networks, companies, and institutions.
Animoca Brands led the seed funding round of NFT3, signalling a strong belief in the fundamental tech NFT3 is building as well as the novel idea of utilising NFTs as an adoptive vehicle for DID tech that all of Web3, GameFi and beyond, sorely needs.
Yat Siu, the executive chairman and co-founder of Animoca Brands, commented: “NFTs have become the cornerstones of identity in Web3 and are an important component of the metaverse. By incorporating decentralized identifiers into NFTs, NFT3 has laid the groundwork for a unified identity layer where individuals accrued history and actions can have a value across platforms, metaverses, and game contexts.”
The NFT3 team has begun strategically rolling out the conceptual framework, and developing the initial buildout for a first of its kind virtual identity network, with features such as a novel credit scoring system for Web3, NCredit, an identity graph for the Metaverse, and much more to come later, governed by NFT3 DAO.
The first major use case roll-out for NFT3 will be validated airdropping — NFT3 users will be able to receive a myriad of airdrops from partner projects just by having a NFT3 account with an activated DID.
Decentralized Identity via NFT3 will therefore be able to help solve the long-standing problem of heretofore bot-generated wallet address spoofing — projects and platforms can now ensure they airdrop to real users, while also allowing projects great insight into on-chain metadata that is valuable to them — e.g. a project can airdrop to certain types of NFT3 users holding a specific NFT or having a certain amount of their native token already, to target their involvement.
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