News

NFT3 Has Gained $7.5M Led By Animoca Brands

NFT3 Has Gained $7.5M Led By Animoca Brands 3

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 Web3NCreditan 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.

NFT3 Has Gained $7.5M Led By Animoca Brands 4

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Hazel

CoinCu News

Victor

Recent Posts

Celebrating the Success of Zircuit’s ZRC EigenLayer Fairdrop

George Town, Grand Cayman, 8th November 2024, Chainwire

3 mins ago

BIO Protocol, DeSci sector, invested by Binance Labs

Binance Labs makes its first foray into decentralized science (DeSci) with an investment in BIO…

54 mins ago

Crypto Industry Campaign Wins Overwhelming Victory With $135M Spent

The crypto industry campaign spent $135 million supporting over 50 U.S. election candidates in 2024,…

2 hours ago

Big Money Is Back in the Market: Here Are 3 Tokens They Are Heavily Buying

Major investors are heavily purchasing specific tokens they think have great development potential when huge…

3 hours ago

Your Guide to the Best Presale Cryptos to Buy in November 2024, Qubetics, Filecoin, and Litecoin Comparison

Crypto is still shaking up the financial world, and the latest players in this space…

4 hours ago

$115M Success Story – Once an Underdog Here’s How BlockDAG Has Gone a Leg Up Against Archrival Kaspa

Discover why BlockDAG (BDAG) is emerging as a strong competitor to Kaspa (KAS) with its…

5 hours ago

This website uses cookies.