The seed round investment in The Easy Company’s “social” cryptocurrency wallet, which is a company that focuses on the development of a consumer layer to the decentralized internet, was $14.2 million. This wallet is designed to enable more people to be included in the Web3 ecosystem.
TechCrunch claims that the first round included participation from a wide range of investors. Lobby Capital and Relay Ventures were the investors. 6th Man Ventures was also involved, as well Tapestry, Upside and Scribble. Lobby Capital, Relay Ventures and 6th Man Ventures were also investors.
Participated in the round were angel investors with both Web3 and traditional social media experience. These investors included former executives of companies like Eventbrite, Novi and Instagram.
The wallet is now available on both iOS and Android. It has been secretly tested for thirty days before it went public.
Mike Dougherty is the Chief Executive Officer at Easy. He stated that the company’s mission was to combine compelling social elements and user-curated profiles, so anyone can search, browse and discover the Web3 world on their own.
Dougherty presented that Web3 companies offer a lot of products and services that are too complicated for most people to use. The company’s mission, by streamlining the process of using digital wallets and interacting with Web3, is to make it easier than ever for customers to use Web3 services.
The platform is structured in a similar way to Instagram. Users may swipe to see their own NFTs as well as those of others. This is similar to Instagram Stories. The platform’s user interface is similar to Instagram, according to some reports.
Venture capitalists still provide substantial investment to Web3 companies despite the fact that crypto winter has lasted so long.