On Friday, startup NFT Revise said it raised a $3.5 million funding round led by AlphaWave Global and 8i to offer a platform for developers to program and embed utilities into their NFTs to connect with apps and data.
Investors, including Bharat Founders Fund, Sandeep Nailwal (Co-founder of Polygon), Scott Lewis (Founder of Pulse Challenge), Utsav Somani (List of Angels), and Rahul Chaudhary (Co-founder of Treebo), were also part of the round.
Raunaq Vaisoha, co-founder and CEO of Revise, said, “As NFTs move from culture to utility, Revise aims to lower the barrier to programming NFTs. With Revise in their toolkit, Developers can offer creative and powerful utilities to their community through their NFT without sacrificing governance.”
At present, Revise SDK is live and developers can sign up for their private beta mode to use it. Users, including Ludo Labs, use the platform to host exciting giveaways for its NFT collection, such as tickets to football matches.
Sandeep Nailwal, co-founder of Polygon, said, “I am happy to support Raunaq and Anil’s vision for the NFT space. NFT’s programming opens up powerful new ways for artists and developers to express their creativity and bring people closer to becoming Web3 natives. Glad to be on this journey with them.”
Tushar Behl, member of the investment team at Alpha Wave Global, added: “What the Revise team is building can become the most fundamental layer for NFT provenance and programming, just like Chainlink did for Defi.”
Before launching Revise, Anil Dukkipatty and Raunaq Vaisoha co-founded blockchain startup Elemential Labs, which helped developers transform their static NFTs into interactive NFTs to adapt to real-world applications and events.
Revise offers customizable solutions and allows developers to choose the storage layer, including Web3 layers like IPFS or Web 2 layers like Amazon S3.