NFT programming start-up Revise raises $3.5 mn in funding led by Alpha Wave
Revise offers developers the rails to program NFTs to interact with apps and data
NFT programming layer Revise has raised $3.5 million in its seed round led by AlphaWave Global and 8i. Other significant investors in the round include Sandeep Nailwal of Polygon, Scott Lewis of DEFI Pulse, Utsav Somani of AngelList, Bharat Founders Fund, and Rahul Chaudhary of Treebo. The funds will be used for hiring and expansion.
Revise offers developers the rails to program NFTs to interact with apps and data. This takes NFTs from static images to interactive objects which can react to applications and real-world events. Enabling people to build their own interactive metaverse.
With the Revise SDK in their toolkit, developers can set up a trigger based on their data feed of 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. For example, based on the Yahoo weather data feed, a simple program could be making my NFT wear a cap if it is sunny outside. This is infinitely customisable. The developer can choose their own storage layer based on their latency and security needs, whether on web3 layers like IPFS or Web2 layers like Amazon S3.
In addition, Revise adds a layer of governance for the storage through its data structure, enabling an audit trail for all revisions made to an NFT based on the programming, so an NFT creator can handle dispute resolution in a trustable and seamless manner.
Applications across industries are adopting NFTs. So far, the prime movers have been gaming, social media, music, sports, and various other spaces. This shift in adoption is taking NFTs from culture to utility. This means an NFT goes from a simple JPEG to an interactive object.
Revise has been co-founded by serial entrepreneurs Anil Dukkitpatty and Raunaq Vaisoha, who were previously co-founders at Elemential Labs, a blockchain start-up that worked with large enterprises such as NSE, NSDL, CAMS, and ICICI Bank, among others.
Raunaq Vaisoha, Cofounder, 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”.
Published By : Business Standard