Notifi Network, Inc, a messaging platform designed to be the ‘Twilio for Web3’ has secured $2.5 million in its pre-seed funding round, the company said in a press release shared with Invezz.
The financing round was co-led by early stage venture capitals Hashed and Race Capital, with notable participation from Canonical Crypto’s Anand Iyer and CMS Holdings’ Dan Matuszewski.
Are you looking for fast-news, hot-tips and market analysis?
Sign-up for the Invezz newsletter, today.
According to the press release, Notifi will use the pre-seed funds to grow its team and build the necessary infrastructure ahead of their Beta launch.
Growth in the blockchain sector continues to gather speed as more companies look to build on the new technology to reap the available benefits. One of the developments in the space is Web3, a decentralised iteration of the Web that is much a work in progress.
Building the relevant infrastructure for the technology is however in full speed across the board, and platforms like Notifi Network, Inc. are taking the initiative to make one of these infrastructural pillars happen.
Notifi says it aims at unlocking the Web3 communication infrastructure, with a solid but easy to integrate and use messaging platform.
According to the release, the platform that Notifi seeks to build will cater to the needs of all decentralised applications (dApps) across all blockchains.
“I am building Notifi to be the Twilio and the de facto messaging protocol for blockchain so we can help developers and projects to start building long-term relationships with their users,” said Paul Kim, the founder and CEO of Notifi Network.
Twilio is a US company that has created APIs that virtualise communication channels, making it simple to communicate across networks on phone, text or video.
Baek Kim, the General Partner of Hashed, noted that Web3 communication infrastructure as it should be in a decentralised ecosystem doesn’t exist. Commenting on Notifi’s goal of providing these features, he added:
“Third-party applications like Discord and Twitter are not enough. With almost $70 billion total valued locked on Defi and $6.1 billion transacted on NFTs it’s crazy that there are no real communication layers to support these ecosystems.”
He believes solving these shortcomings now will help users unable to connect with Web3 make that final crossover.
In this respect, Notifi seeks to roll out a platform that will simplify communication within the Web3 ecosystem.
Per the company, the messaging channels come with simple APIs that are both easy, customizable and open to all users. There will also be advanced features designed to allow for integration of dApps and Web3 applications.
67% of retail CFD accounts lose money