Menyala fuels Authentick’s $4M seed round to revolutionize NFT shopping experience

Menyala fuels Authentick’s $4M seed round to revolutionize NFT shopping experience

Authentick, a groundbreaking platform facilitating the purchase and authentication of non-fungible tokens (NFTs), has officially stepped out of stealth mode with a $4 million seed investment. This financial vote of confidence, led by Temasek’s venture arm Menyala, enables the platform to scale up its operations and extend its product lineup.

Authentick: Bringing NFTs to eCommerce

With this funding, the company unveils its ambitious aim: to integrate digital collectibles into mainstream eCommerce.

The innovative system developed by Authentick circumvents the complexity of Web3 wallets and exchanges by converting NFTs into a format suitable for listing on popular e-commerce platforms such as Lazada. This paves the way for users to unlock exclusive content across various apps and games.

Boyko Draganov, the enthusiastic CEO of Authentick, stated:

“This is the first step of our vision to become a digital asset platform that will eventually include services and products for Authentick-hosted wallets,”

Draganov’s statement echoes the company’s strategic foresight and commitment to expanding the reach of digital collectibles.

Partnerships with TikTok and Shopify

The company’s launch is not just about technology but also partnerships. Authentick has joined forces with prominent names like TikTok, Shopify, and Lazada, signaling a potent fusion of e-commerce, social media, and the burgeoning world of digital art and collectibles.

This collaborative effort with Lazada and TikTok notably shatters the barriers to digital asset ownership, offering a streamlined experience to the everyday consumer. Underlining the company’s user-centric approach, Draganov stated:

“With Authentick, users get to shop where they already shop, buy the brands they love, and pay in fiat, giving them easy access to digital ownership,”

Onboarding creators

The firm’s partnerships extend beyond platforms to creators, boasting a catalog that includes works from renowned artists and brands like Takashi Murakami and Adidas. This eclectic mix caters to a broad audience, affirming Authentick’s role as a comprehensive digital collectibles hub.

Setting a new industry standard

Determined to eliminate the risks associated with digital asset acquisition, the platform is setting a new industry standard with robust AI and human oversight. This ensures that every NFT bought is not only genuine but also adheres to compliance and safety standards.

Authentick’s emergence, supported by Menyala’s strategic investment and a suite of major partnerships, heralds a new chapter in the digital collectibles narrative. It promises a future where buying an NFT is as commonplace and simple as any online purchase today, bridging the gap between the cutting-edge world of blockchain and the established domain of e-commerce.

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