Authentick Secures $4 Million in Seed Funding for Wallet-Free NFT Experience

Authentick has raised a seed funding round that has brought $4 million in capital to the table. The funding was led by Menyala, the venture-building platform associated with Singapore’s Temasek. 

Authentick also introduced its NFT platform, Authentickator, designed to simplify the experience of exploring, purchasing, and authenticating digital collectibles or non-fungible tokens (NFTs. The platform is noteworthy for enabling these operations without needing a cryptocurrency wallet.

The platform offers a wallet-free solution for users interested in digital collectibles and NFTs, making it easier for individuals to engage with these digital assets. This development is expected to enhance the experience of NFT enthusiasts and expand Authentick’s presence in the growing NFT market.

Authentick is dedicated to bridging the gap between digital collectibles and Web2, making NFTs more accessible to a broader audience. Its innovative approach allows users, even those unfamiliar with cryptocurrencies, to purchase NFTs from established online shopping platforms. 

The company’s strategic alliances with prominent names like Lazada, TikTok, and Shopify have allowed users to seamlessly acquire digital collectibles through these platforms using familiar payment methods. This collaboration underscores Authentick’s commitment to making digital collectibles available to the masses and removing the complexities often associated with the Web3 ecosystem.

With the fresh injection of capital, Authentickator plans expansions, which include growing the marketplace, nurturing collaborations with brands and creators, enhancing services, and advancing the product roadmap. 

These endeavors aim to deliver an even more user-friendly and engaging experience for those eager to explore the world of digital collectibles and NFTs. Authentick’s approach, combining partnerships with e-commerce and social media giants, promises to bring digital collectibles into the mainstream, further propelling the growth of the NFT market.

The company intends to manage the distribution of digital collectibles for its brand partners, ensuring that these items can be readily purchased on major online retail platforms. 

The platform leverages its in-house system, merging the efficiency of AI with human review to validate the safety, authenticity, and compliance of NFTs. By simplifying the acquisition process and providing strong security measures, Authentickator has secured strategic partnerships with various apps, games, dApps, and Metaverses, including industry leaders like Animoca Brands and The Sandbox, ensuring that NFTs are a practical addition to numerous online platforms and experiences.

Armed with its newfound financial backing, Authentick has laid out a roadmap filled with ambitious objectives. Among these is the plan to host exclusive NFT drops, creating opportunities for business partners to extend their Web3 presence and ensure global visibility on digital collectibles platforms. 

“This is the first step of our vision to become a digital asset platform that will eventually include services and products for Authentick-hosted wallets,” Boyko Draganov, the company’s CEO stated.

Also read:

• Blockchain startup Oxalus raises $1.1m for NFT social commerce expansion
• Singapore’s SPH Media Boosts News Offerings with Tech in Asia Acquisition
• Top 6 Cleantech Startups in Singapore Securing Impressive Funding Rounds
• Singapore’s REDEX Raises $10 Million in Series A Funding Led by Aramco Ventures