[Funding alert] NFT startup Revise raises $3.5M seed round from AlphaWave Global, 8i, others

NFT startup Revise on Friday said it has raised a seed round worth $3.5 million led by AlphaWave Global and 8i to offer a platform for developers to program and integrate utility into their NFTs to connect with apps and data.

Investors, including Bharat Founders Fund, Sandeep Nailwal (Co-founder of Polygon), Scott Lewis (Founder of Defi Pulse), Utsav Somani (AngelList), and Rahul Chaudhary (Co-founder of Treebo), were also part of the seed round.

Raunaq Vaisoha, Co-founder and CEO, 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."

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At present, Revise SDK is live, and developers can sign up for their private beta mode to use it. Users, including Ludo Labs, are utilising the platform to host exciting giveaways for its NFT collection, such as tickets to football matches.

Sandeep Nailwal, Co-founder of Polygon, said, "I am happy to support Raunaq and Anil's vision for the NFT space. Programming NFTs unlocks powerful new ways for artists and developers alike to express their creativity and bring people closer to becoming Web3 natives. Excited to be on board this journey with them."

Tushar Behl, part of Alpha Wave Global's investment team, added, "What the team at Revise is building can become the most fundamental layer for NFT provenance and programming, much like Chainlink did for Defi."

Before launching Revise, Anil Dukkipatty and Raunaq Vaisoha co-founded blockchain startup Elemential Labs. With the launch of Revise, the company plans to help developers transform their static NFTs into interactive NFTs to adapt to apps and real-world events.

Revise offers customisable solutions and allows developers to choose the storage layer, including Web3 layers like IPFS or Web 2 layers like Amazon S3.