Web3 technology platform Nefta rakes in $5m seed

Web3 technology platform Nefta rakes in $5m seed

Nefta, a company focused on the Web3 space, has scored $5m in a seed funding round headed by Play Ventures.

Other investors in the round included SevenX Ventures, Sfermion, MZ, Polygon Ventures, and reinvestment from Picus Capital.

Founded in 2022, Nefta has rapidly expanded in the Web3 space, offering a complete end-to-end solution for companies looking to build, launch and grow high-quality Web3 games.

Nefta claims its team has a wealth of industry experience, providing the skills and knowledge to handle the complexities of Web3, leaving its partners free to focus on building great products.

Nefta has gained attention in the blockchain gaming space for its one-stop-shop Web3 toolbox and white-label solution and will be launching its Web3 advertising network in Q1 2023.

The new advertising tech utilises the integral privacy of Web3 to keep user data protected, while leveraging public blockchain data to ensure that advertisers and publishers increase ad revenue and reach the right audiences.

Nefta will use the new financing to expand its business and team, grow its market presence and realise its vision of being the go-to platform for Web3 solutions.

Nefta founder Geeshan Willink said, “Play Ventures has one of the best portfolios in the world for gaming and Web3. Receiving one of the largest investments from its Future Fund demonstrates their conviction in our team, products and vision. With their support, we’re able to power the next evolution of game economies, showcasing the benefits of blockchain to help our partners build, grow and scale Web3 ecosystems.”

Last year, RegTech firm Tintra revealed it had begun development on what is believed to be the first ever Web 3.0 banking platform.