Redeem, which seeks to help you to access and exchange NFTs by using just a phone number, has recently raised $2.5 million to make this seamless technology a reality. It’s a surprise and a delight because it hides the complexity of technology!
Redeem wants to help users for trading collectibles with popular messaging applications, such as WhatsApp, SMS, or iMessage.
Founded by ex-Alibaba executive, Toby Rush, and the founder of Alibaba-owned EyeVerify, Redeem is a Web3 technology passionate about improving the user experience for users.
It allows its users to send and redeem non-fungible tokens (NFTs) simply with their phone numbers within seconds.
About Redeem’s Solution
Redeem bypasses the technicalities involved in owning, selling, and transferring NFTs and makes NFTs more accessible to the general public via phone numbers only.
People were impressed by Redeem’s idea and before long, it became popular.
Now, Rush has raised $2.5 million in seed funding raise. The investors in the funding round are KCRise, Monochrome Capital, The Fund, and Flyover Capital. Redeem hopes to use the fund to continue developing the project in Q2 2023.
Redeem’s solution involves a blockchain connectivity layer that allows users to trade NFTs via SMS, WhatsApp, iMessage, and other apps by using their mobile numbers.
To begin, users should connect their digital wallet to their number. Soon, they’ll be able to buy tickets, assets, in-game items, and digital tickets via QR codes.
This concept by Rush system will enable users to connect their wallets to their phone numbers and start trading assets.
The new technology will revolutionize the NFT space for newbies and might improve NFT adoption.
In a comment, Rush said:
“Web3 desperately needs a frictionless connectivity layer between the user and the blockchain. We aim to provide that infrastructure, allowing anyone to tap into web3 just by using their phone numbers.”