• Wakweli has successfully completed a $1.1 million seed funding round to build and develop its tokenized assets certification platform.
• This capital raise will go towards helping the startup roll out its product offerings such as a community-core protocol that shows authentic NFTs and tokenized assets using a kind of checkmark.
• The capital raise was led by Summit Group, a comprehensive blockchain ecosystem that deals with investments, mining, consulting, and education in blockchain and crypto projects.

Wakweli Raises $1.1 Million

Wakweli, a Geneva-based company (which is Swahili for truthtellers), has successfully completed a $1.1 million seed funding round to build and develop its tokenized assets certification platform. The capital raise was led by Summit Group, a comprehensive blockchain ecosystem that deals with investments, mining, consulting, and education in blockchain and crypto projects. Other partners include Funfair Ventures, a crypto venture capital firm that invests in early-stage startups, and ‚dozens‘ of angel investors and early-stage investors.

Funding Will Augment Product Development

This funding will augment the product development of its NFT certification platform which includes providing solutions allowing NFT marketplaces buyers and creators to benefit from their assets by verifying their authenticity using a ‘checkmark’ to prove authenticity for NFTs and tokenized assets on the blockchain. Additionally it aims to introduce more innovations and new products as new capital flows into the project such as introducing community-core protocols that show authentic NFTs using checkmarks similar to Twitter Blue but without having to pay any fees for authentication.

Growing Problem With Scam NFTs

The Web 3 ecosystem is no visitor to rug pulls and scams on investors, and NFTs are no different – with the number of phishing pump & dump fake & duplicate scam NFTs increasing rapidly in the past two years as the ecosystem grew to an estimated $22 billion market according to BCG global consultancy firm estimates predict this market could grow up to $1.6 trillion by 2030 making Wakweli’s vision key for mass adoption according to FunFair Ventures COO Lloyd Purser who said „the problem Wakweli is solving is very real.“

Incubated By EverdreamSoft

Wakweli is currently incubated by EverdreamSoft founded by Wakweli’s Co-Founder & CEO Shaban Shaame who have pioneered growth of Blockchain gaming since 2015 since launch in 2021 they have developed solutions allowing buyers & creators alike access benefits from their assets through verification systems like checkmarks showing authenticity free of charge creating trust & security within the industry before it grows even further beyond current estimates

Conclusion

With this new round of investment Wakwel hopes not only bring their own innovations such as ‘checkmarks’ but also help increase mass adoption within web3 technology utilizing partnerships & collaborations already secured alongside angel investors & early stage backers all helping create trust & security within what is predicted could become one of the most profitable markets ever seen