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CDS Startups Revel Raises $7.8M in Seed Funding

Startups

Revel Raises $7.8M in Seed Funding

oguz29/12/20221 Mins read536

The new startup Revel, which is trying to create a social platform for NFTs, has made a good start by receiving $7.8 million funding in Seed Funding.

Table of Contents

Funding Highlights

The seed round was led by Dragonfly Capital, while Union Square Ventures, Sfermion, 6 Dec Man Ventures, Gaingels, Wagmi Ventures, Alumni Ventures, Global Impact Ventures, Hansa Labs and Polygon were among the other investors. The funds raised will be used to upgrade the platform’s Web3 interoperability, increase AI functionality and improve the platform’s social features.We can call the platform an NFT initiative or a social collectables platform. The platform is like a combination of Instagram and Robinhood platforms. Instagram is known as a social media platform, while Robinhood is an investment and trading platform. Ravel CEO Adi Sideman said:

“What is not here yet, and is inevitable, is that the media published on social media, by users, personal media, will all be ownable and collectible. This triggers a new breed of services, services that are part social networks, part marketplaces and part social games.”

Revel will blend the features of these two platforms to create a platform where users can create NFTs for their followers. In addition, these created NFTs will be able to be bought and sold within the platform. The first NFT collection mint process for users will be free of charge, but people who trade from other NFT collections will be able to mint more NFT.

None of the current social media platforms has an NFT collection ecosystem. There are NFT marketplaces, but these marketplaces do not carry social functions. However, the Revel platform combines social media and NFT trading and offers users a social NFT trading platform.

About Revel

Revel is a social NFT trading platform where users can convert their personal photos to NFT and trade these NFTs. Revel is currently available for download via the App Store and the Google Play Store. Users mint NFTs on the platform and create a community. Revel is a mixture of Instagram and Robinhood platforms and offers NFT trading to its users on a social platform.

References

www.techcrunch.com

www.revel.xyz

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Written by

oguz

The author is a political science and public administration student at Kocaeli University. He is also studying Management Information Systems at Anadolu University. He met Blockchain technology and Cryptocurrencies for the first time in 2019. Interested in cryptocurrencies for over 2 years. In addition he provides E-commerce and social media marketing services.

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