Nefta Secures $5 Million Seed Investment

This latest round of funds is intended to help the company expand its team and grow its Web3 solutions platform

Nefta, a Web3 technology platform, has raised $5 million in a seed round led by Play Ventures.

This latest funding follows an initial investment of $1 million from Picus Capital in June 2022. Play Ventures has made over 60 investments and looks towards projects that show promise within the Web3 and free-to-play game space across the globe. Additional participants in the funding include SevenX Ventures, Sfermion, MZ and Polygon Ventures.

With varied investments from around the world, Nefta is looking to expand even further. The company was founded in 2022 and has been growing ever since. We recently saw Nefta enter a partnership with MYSTiC Games to facilitate Web3 systems and wallet integration for free-to-own NFTs.

Web3 plans

Nefta was founded by games industry veterans, with a team including ex-Google Play, Adcolony, Outfit7 and other employees. This experience and knowledge means the team has skills that can be implemented across the Web3 space. Nefta is providing Web3 tools and end-to-end solutions for businesses that are looking to enter and expand within Web3.

Nefta intends to help make Web3 more accessible and expand upon its partnerships which already include the likes of VIKER and GAMI. While Nefta is mainly focused on gaming, its tech stack has also intrigued those in the music, beauty, festival and other industries that are looking to scale their Web3 strategies. Nefta intends to use this recent round of funding to expand the business and team. In addition, it aims to grow its market presence to become one of the best platforms for Web3 solutions.

Founder of Nefta, Geeshan Willink commented on the investment saying. “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.” 

Web3 is still facing many misconceptions and with a rocky year in 2022, many are hoping that this year will be a prime time for those who are serious about the space to make their mark. Acquiring investments will play a crucial role in the development of these projects as will the quality of the product.

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