Barcelona-based Freeverse, which allows companies to build products featuring next generation NFTs, ‘Living Assets’, has raised €10 million in Series A funding. The financing round was led by European VCs Earlybird Venture Capital and Target Global (that backed Lepaya) along with participation from existing investors Adara Ventures and 4Founders Capital.
The other investors in the round include the global digital media giant, OneFootball and angel investors, including international football star Mario Götze, Travelperk CEO Avi Meir, OneFootball CEO and Co-founder Lucas von Cranach, and Maex Ament, Co-founder of Taulia and Centrifuge.
Product and technology development
Freeverse will use the investment to fund a strong go-to-market push and to continue the development of the product and core technology.
“Living Assets represent the way forward for digital ownership in the metaverse and beyond”, explained CEO Alun Evans. “The fact that Living Assets are valued more by how they are used, as opposed to simple speculation, means that they enable a fairer and more sustainable business model for both companies and consumers. As such, we expect our approach to become a core component within the emerging web3 sector.”
“While 2021 may have been ‘the year of the NFT’, NFTs that can be changed by their owners, such as Freeverse’s Living Assets provide a more sustainable business model for the sector, as their market value is not decided by artificial concepts of scarcity,” commented Dr. Christian Nagel, Partner and Co-founder at Earlybird.
“The infrastructure the Freeverse team has built addresses the limitations that NFTs have today, including the ability for brands to protect their brand equity. They’ve come up with a contrarian approach to other purely decentralized plays – but one that we believe is necessary for mass adoption of NFTs”, added Lina Chong, Investment Director at Target Global.
Revolutionses NFT ownership
Founded in 2019 by Alessandro Siniscalchi, Alun Evans, Ferran Estalella, and Toni Mateos in Barcelona, Freeverse operates with the mission is to create blockchain-based Living Assets, an evolved NFT 2.0 platform that will power the next-generation digital industry. Living Assets represent the next generation of NFT technology, unique digital assets that change or evolve, and can be created and traded at a scale and cost to reach the mainstream.
Living Assets allow content creators to truly engage with their audiences. These can be traded in FIAT currency, thereby permitting users to enjoy the benefit of true digital ownership in a seamless way without even realising the power of the underlying blockchain that makes this dream come true.
Last year, NFT sales surpassed over $20 billion, as both business and end-users realised the enormous potential unlocked by blockchain-certified digital ownership. Despite this growth, one of the main criticisms of the digital collectibles boom is that the market value relies purely on speculation.
Freeverse’s core product is a platform that allows companies, be it brands, game developers, or other content creators to add a crucial new layer to their products. With Freeverse, the metaverse will be populated with assets that capture the value provided by their owners’ effort and talent using them, instead of just scarcity and speculation.