Secure Your NFTs with Wakweli: $1.1M Invested in Protocol

• Wakweli is a web3 infrastructure protocol that issues certificates of authenticity for NFTs.
• The funding round was led by Summit, an blockchain investment firm and other investors.
• The funds will enable Wakweli to roll out its product offerings and help protect against NFT scams and cases of copyright infringement.

NFT Certification Protocol Wakweli Raises $1.1M in First Funding Round

Wakweli, a Web3 infrastructure protocol that issues NFT authenticity certificates, has announced the successful closing of their seed funding round with $1.1 million raised from several investment firms including Summit, Funfair Ventures, several business angles, and dozens of early investors. The funds will facilitate the launch of its product offerings which are designed to protect against NFT scams and cases of copyright infringement.

What is Wakweli?

Wakweli is a Geneva-based startup incubated by software firm EverdreamSoft that was founded in 2021 with the aim of becoming the reference of trust for the decentralized ecosystem for preserving the market integrity of tokenized assets. It launched its website, whitepaper, and Alpha version of its protocol in 2022 and plans to create a foundation this year to manage projects building on its layers and apply for token grants distributed by its on-chain treasury.

Why Is This Important?

A recent report by global consulting firm BCG predicts that asset tokenisation will expand into a $16.1 trillion industry by 2030, meaning authentication will remain an important issue for many years to come. The problem Wakweli is attempting to solve has become increasingly relevant as fraudsters have taken advantage of decentralized networks’ lackadaisical attitude towards verifying data accuracy or confirming ownership rights on digital assets such as Non Fungible Tokens (NFTs).

Investor Confidence in Wakweli

FunFair Ventures COO Lloyd Purser expressed his confidence in Wakweli’s objectives stating: „The team is hugely experienced and passionate and has shown great trajectory.“ He added: „We firmly believe that Wakweli will be a key enabler in the growing use of web3 technology in the years ahead.“

Conclusion

It is clear that there remains strong investor confidence in the potential success of Wakwelis mission to provide trust assurance on digital asset transactions within decentralized networks, especially with regard to non-fungible tokens (NFTs). With over $1 million raised during their seed funding round it looks likely that they are well positioned for further growth as we move forward into 2030 when asset tokenization rises exponentially according to BCG’s predictions