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London-founded web3 startup Nefta has received $5m (£4.2m) in a seed investment round, with $2.5m (£2.1m) coming from Play Ventures’ Future Fund.
Nefta provides various tools such as digital assets, multi-chain wallets and tokens for businesses to create their own web3 games.
“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,” said Geeshan Willink, founder of Nefta.
Play Ventures was joined in the round by SevenX Ventures, Sfermion, MZ, Polygon Ventures and existing investor Picus Capital, who previously invested $1m in June last year.
Its seed investment will be put towards the launch of its “web3 advertising network” this quarter and growing its headcount. The company added it will be adding “many more” partnerships in 2023.
Nefta’s team includes GooglePlay, Adcolony, Outfit7, Admix and Metanomic alumni.
Kenrick Drijkoningen, GP at Play Ventures, said: “We’ve seen outstanding progress from Nefta since their inception in 2022. They’ve grown at a rapid pace, and their web3 end-to-end building and scaling platform has already generated huge industry interest.”
The firm, founded in 2022, is now headquartered in Berlin and has a tech hub in Slovenia.
Last year, Play Ventures led the £1.7m pre-seed investment into conversational artificial intelligence startup Carter.