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CDS Startups Crypto Infrastructure Startup Openfort Raises $3 Million In Seed Round

Startups

Crypto Infrastructure Startup Openfort Raises $3 Million In Seed Round

Crypto infrastructure startup Openfort has raised $3 million in a seed round for its frictionless wallet technology for web3 games.

lectertodd22/05/20231 Mins read518

Crypto Infrastructure Startup Openfort Raises $3 Million In Seed Round

In a round co-led by Gumi Cryptos Capital and Maven 11, the crypto infrastructure startup Openfort has acquired $3 million in seed funding to create its wallet-as-a-service software offering for game publishers and developers. In the round, Game7, NGC Ventures, and Newman Capital all took part.

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Crypto Infrastructure Startup Openfort Raises $3 Million In Seed Round

The frictionless wallet technology that Openfort touts as being available to video game developers consists of several APIs that work with both web games and PC games created in Unity and Unreal Engine 5. The company is also developing a feature that makes it possible to support mobile games.

The burdensome aspects of cryptocurrency transactions, according to co-founder Joan Alavedra, should be abstracted away from the user experience by technology.

All the cliches around interacting with wallets—they can finally disappear. A very interesting feature that we’re excited about is this idea of game sessions or session keys.
Alavedra

Joan Alavedra’s Statements

Users won’t frequently need to engage with the blockchain thanks to sessions, according to Alavedra, who compared the situation to “cookies” on websites that keep track of user behavior.

You can even segment those players like, ‘Hey, this is a pro player, this is a bot. This is like a very new player, etc.’ And then craft a user experience for each one of the players,
Alavedra

About Wallet Solution

According to Alavedra, Openfort’s wallet solution will be white-label, enabling game developers to completely alter the program and design their own user interfaces free of any Openfort branding. The Ethereum Virtual Machine (EVM) will be powered by Openfort’s wallet. Thus, it will enable the wallet solution to be used in games trading on the following Ethereum-compatible networks:

Polygon
Immutable
Avalanche
Arbitrum
BNB Chain
Optimism
Cronos
Ethereum

Openfort is entering a market that is already competitive in an effort to address the problems in crypto gaming. With other companies like MetaMask, Immutable Passport, Coinbase Wallet, and Fractal’s Wallet, to mention a few, in the wallet market, it can have to compete.

Sources:Decrypt

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Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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