Revise, the nonfungible token (NFT) programming layer, has raised $3.5 million in a round led by AlphaWave Global and 8i Ventures. Sandeep Nailwal, Co-Founder of Polygon, Utsav Somani, Partner at AngelList, and Rahul Chaudhary, Co-Founder of Treebo, participated in the round. Bharat Founders Fund, a group of startup founders and senior executives, has also invested in the round. The funds will be used to hire new employees and expand the company.
Revise was established in January 2022 by Anil Dukkitpatty and Raunaq Vaisoha. They previously founded Elemential Labs, a blockchain startup that collaborated with large corporations such as the National Stock Exchange (NSE) and ICICI Bank.
As NFTs move from culture to utility, Revise intends to lower the hindrance to programming NFTs, stated Vaisoha. With Revise in their toolkit, developers can provide creative and powerful utilities to their community via their NFT while maintaining governance. The business allows developers to add a governance layer that enables creators to audit NFT revisions based on programming.
Programming NFTs opens up powerful, innovative methods for artists and developers alike to express their creativity, bringing people one step closer to becoming web3 natives. They are thrilled to be a part of this journey with them, remarked Nailwal.
As buyers struggle to comprehend the value of these tokens beyond trading, adding utility and use cases for NFTs is becoming increasingly important. NFT startups and marketplaces in India are boosting an NFT economy that uses NFTs to solve for digital flexing and unlock value in physical and digital spaces.
Revise provides rails for developers to use when programming NFTs to interact with apps and data. This transforms NFTs from static images to interactive objects capable of responding to applications and real-world events. Making it possible for people to create their own interactive metaverse
For more information, visit https://www.revise.network/