NFT startup Revise has raised $3.5 million in its seed round co-led by Alpha Wave Global and 8i Ventures. A clutch of angel investors including Sandeep Nelwal of Polygon, Scott Lewis of Defi Pulse, Utsav Somani of AngelList, Bharat Founders Fund, and Rahul Chaudhary of Treebo also participated in this round.
Revise plans to use the raised capital for hiring and expansion.
Founded in January 2022, Revise offers Rails to developers to program non-fungible tokens (NFTs) to interact with apps and data. This transforms NFTs from static images to interactive objects which can react to applications and real-world events. Enabling people to create their own interactive metaverse, startup claims.
With the Revise SDK in their toolkit, developers can set up a trigger based on the data feed of their choice, whether from an application event or a public data feed streaming from web3 platforms like Chainlink or web2 outlets like Yahoo. Then, using the Revise programming layer, the developer tells the NFT how to react to the set trigger. Plus, it adds a layer of governance to storage through its data structure, enabling an audit trail for all modifications made to the NFT on a programming basis, so an NFT creator can handle disputes in a trustworthy and seamless manner.
The Revise SDK is already live on NPM and can be used by developers. Right now, it will be compatible with all EVM series which include Ethereum, Polygon, Optimism, and Binance.
Raunaq Vaisoha, Co-Founder, Revise, said, “As NFTs go from culture to utility, Revise aims to lower the barrier to programming NFTs. With Revise in their toolkit, developers can offer creative and powerful utilities to their community through their NFT without sacrificing governance”.
Tushar Behl, Alpha Wave Global, added, “The entire NFT space has seen a massive narrative shift as people have discovered that NFTs can be more than just digital collectables or static assets. What the team at Revise is building can become the most fundamental layer for NFT provenance and programming, much like Chainlink did for Defi.”
Revise was founded by serial entrepreneurs Anil Dukkitpatty and Raunaq Vaisoha. The duo has previously co-founded Elemental Labs, a blockchain startup that works with large enterprises such as NSE, NSDL, CAMS and ICICI Bank.