Authentick, an NFT authentication company, has today secured $4 million in seed funding led by Menyala, a venture firm founded by Temasek.
Authentick, most notable for its Authentickator platform, is a co-founded by Temasek and Menyala.
Boyko Draganov, the CEO of Authentickator, stated:
“This is the first step in our vision to become a digital asset platform, ultimately offering services and products for Authentick-hosted wallets.”
Authentickator offers a user-friendly platform that allows individuals to seamlessly browse, purchase, and confirm the authenticity of NFTs on major e-commerce platforms.
This process requires no prior experience with wallets or Web3 technology.
The company’s objective is to enhance accessibility to digital collectibles, enabling users to acquire them without relying on Web3 wallets or exchanges.
To achieve this, Authentickator has developed a system that transforms these collectibles into a format suitable for listing on established e-commerce platforms, such as Lazada.
Users can employ these collectibles to unlock features in various games and apps
Authentickator also intends to collaborate with brand partners looking to expand their audience reach.
The company will manage the distribution of digital collectibles, ensuring they are available for purchase on major online retailers.
Temasek’s previous failed investment in FTX resulted in widespread criticism.
The firm had previously written down its full investment in FTX to zero last November.
Running contrary to their previous statement, it appears that Temasek continues to invest in the blockchain sector despite an earlier concern of ongoing regulatory uncertainty in the market.
This is likely due to their intent to support Singapore-based blockchain initiatives.
Coinlive previously reported on how Authentickator partnered with Singapore-based Smobler to feature 3VEREST NFTs on their platform.