NFT Certification Protocol Wakweli Closes First Funding Round with $1.1 Million Raised

A Swiss-based certification platform for non-fungible tokens completed its first private funding round. It yielded contributions from a clutch of highly reputable VCs.

Wakweli platform secures $1.1 million in funding, Summit led round

According to the official announcement shared by the representatives of Wakweli, a first-ever decentralized verification platform for non-fungible tokens (NFTs), its private strategic funding round has been completed sucessfully. A total of $1,100,000 has been raised from top-tier venture capitalists.

🚀 Wakweli just closed its 1st funding round after raising $1.1 million! 🚀

Blockchain investment firm @summit_fr_io led the seed round alongside @FunFairTech @FunFairVentures and several business angels, with dozens of early investors pledging capital to back Wakweli’s vision💚 pic.twitter.com/NzLT8A35a9

— Wakweli (@WakweliChain) February 28, 2023

The round was led by Summit, an Ireland-incorporated cryptocurrency and blockchain firm, while Funfair Ventures and several business angels also backed Wakweli in its fundraising efforts.

With fresh funding, Wakweli will be able to roll out an ecosystem of products to issue a provable mark of authenticity for NFTs and other tokenized assets. This, in turn, will advance the process of verification for NFT commissioners, traders and artists.

Wakweli co-founder and CEO Shaban Shaame highlighted that this funding will be of paramount importance for the entire NFT and Web3 segment:

We are incredibly thrilled and fortunate to have onboarded investors and partners who share Wakweli’s vision to increase trust in the web3 ecosystem. Collaborating with partners who share the same values and aspirations allows us to work towards a common goal to build a better future through innovation and trust. We appreciate the confidence our partners have placed in Wakweli and are excited to start this journey together

Wakweli leverages a sophisticated technical stack based on unique consensus mechanism proof-of-democracy (PoD) to keep all of its processes decentralized, fair and attack-resistant.

Building trustworthy and transparent NFT ecosystem: What is Wakweli?

Mathieu Vincent, CEO of Summit Mining and Summit Gravity, is excited by the vision and mission of Wakweli as well as by the progress it achieved so far:

We are delighted and proud to be able to contribute to web3 development through ambitious startups that build projects such as Wakweli. It is thanks to the implementation of innovative solutions like Wakweli that trust in the blockchain, crypto and NFT ecosystem will grow to the point where this universe will become obvious to everyone.

Launched in 2021 by software firm EverdreamSoft, Wakweli project addresses issues of verified authenticity in the digital collectibles segment.

Its services are designed to help participants of the NFT market to protect themselves from NFT scams and cases of copyright infringement.