The games industry has long been a crucible of innovation and nowhere is that more evident right now than in the explosive Web3 space. Pioneering new player-owned experiences are evolving rapidly. Early adopters are profoundly engaged and game developers are once again at the forefront demonstrating that they are keen to listen, experiment, and deliver.
Web3 projects are being built at an exponential rate on several different blockchain layers, each with their own expansive ecosystems. Multiple blockchains, tokens, wallets and marketplaces have emerged. The associated Cambrian-like explosion of innovation is increasingly complex and cumbersome for users and developers alike. While the industry is poised to take the next steps on the road to mainstream adoption, these fundamental struggles around usability are nontrivial. Which is why the team at Transcend is so excited to welcome Venly to our portfolio family today and announce our participation in their €21 million Series A.
Venly was founded to address the complexity of the evolving Web3 environment with a holistic technology suite that adapts to any business model. The company serves as a launchpad for new projects through its popular frictionless blockchain-agnostic wallets, NFT minting, and cross-chain marketplaces. This round of funding is an important step in expanding the Venly platform and in offering developers the ability to launch Web3 experiences easily through a fully compliant no-code solution. As Tim Dierckxsens, the founding CEO, notes, “The problem today is that most developers and end-users have difficulty interacting with Web3 technology. It needs to be more aligned with Web2 usability, which is exactly what the Venly platform provides. Our APIs and services allow a Web2 company to seamlessly integrate with Web3.”
Already an established, major blockchain technology provider with experience delivering solutions for prominent developers in the blockchain gaming space, including leaders like The Sandbox and Splinterlands, the next chapter for Venly will be exciting indeed as they work to unlock the larger potential of Web3 with a growing array of partners. You should consider being one of them - they are hiring!
About Transcend Fund
Transcend is a top performing early stage venture capital firm that partners with the boldest founders in the industry to collaboratively build the future of interactive entertainment.
Founded in San Francisco by gaming veterans, the Transcend portfolio features a preeminent group of high growth digital entertainment companies around the world.
About Shanti Bergel
Shanti is the founding partner of Transcend and a 30 year game industry veteran.
His global operating experience spans every major platform and business model transition of the last several decades and is animated by a career-long fascination with how changes in technology and distribution affect products, services, and communities.
Shanti is a recognized member of the Techcrunch List, speaks fluent Japanese, and is a frequent speaker on early stage investment, M&A, and strategic partnerships in digital entertainment.