What if I told you that we can trade NFTs using just a phone number? Surprisingly, this innovation will soon become a reality thanks to Redeem. This ambitious Web3 connectivity layer aims to help users exchange collectibles through popular messaging apps like WhatsApp, SMS, or iMessage. The founders, former Alibaba executives, raised a whopping $2.5 million to get their NFT-focused project off the ground, so let’s see how it works!
How will you be able to trade NFTs through phone numbers?
This year could change the way we trade NFTs forever, thanks to Redeem. Basically, the blockchain’s connectivity layer will allow users to send and receive digital assets using their phone numbers. In other words, users can trade NFTs via WhatsApp, iMessage, SMS, and other apps based on their mobile phone numbers.
First of all, users need to connect their digital wallet to their phone number. In this way, you will also be able to get in-game items, digital tickets, and other assets via QR codes.
“The ability to create, engage and own assets outside of traditional walled gardens, like Apple, Google or Ticketmaster, while maintaining trust is the greatest promise of Web3. To realize the power of this new technology, we have to make it accessible and familiar to the masses. That’s why we’re building the Redeem platform.” said founder Toby Rush.
Who is behind the project?
Redeem was founded by Toby Rush, a former Alibaba executive and founder of Alibaba-owned EyeVerify. The entrepreneur aims to bring his long-term experience to broaden the possibilities for users to trade NFTs faster than ever before.
It didn’t take long for his idea to become popular. In fact, Rush recently closed a $2.5 million seed funding round. The list of investors includes The Fund, KCRise, Flyover Capital and Monochrome Capital. Redeem will use the funds to continue development of the project in the second quarter.
Could this be the future of Web3?
The concept behind redeem could innovate NFT trading as we know it. More importantly though, this new system could help new users embark on their Web3 journey. After all, you can trade NFTs in a matter of minutes right from your phone, a procedure that doesn’t require complex blockchain knowledge.
“Web3 desperately needs a frictionless layer of connectivity between the user and the blockchain. Our goal is to provide that infrastructure, allowing anyone to access web3 simply by using their phone numbers.” Rush said.
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This article is educational material.
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