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What if I told you we could exchange NFTs using just a phone number? Surprisingly, this innovation will soon become reality thanks to Redeem. This ambitious Web3 connectivity layer aims to help users trade collectibles via popular messaging apps like WhatsApp, SMS, or iMessage. The founders, ex-Alibaba executives, raised a whopping $2.5M to kickstart their NFT-centered project, so let’s find out how it works!
How Will You Be Able to Exchange NFTs via Phone Numbers?
This year might change how we exchange NFTs for good, thanks to Redeem. Basically, the blockchain 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 numbers.
Firstly, users must connect their digital wallet to their phone number. This way, you’ll 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 the traditional walled gardens — like Apple or Google or Ticketmaster — while retaining trust is the biggest promise of Web3. To realize the power of this new technology, we have to make it approachable and familiar to the masses. That is why we are building the Redeem platform,” said founder Toby Rush.
Who Is Behind The Project?
Redeem was founded by Toby Rush, a former executive at Alibaba and the founder of Alibaba-owned EyeVerify. The entrepreneur aims to bring his long-term experience to expand users’ possibilities to exchange NFTs faster than ever before.
It didn’t take long for his idea to catch on. In fact, Rush has recently closed a $2.5 million seed funding round. The investor’s list includes The Fund, KCRise, Flyover Capital, and Monochrome Capital. Redeem will use the funds to continue the project development in Q2.
Could This Be The Future of Web3?
The concept behind Redeem might innovate NFT trading as we know it. More importantly, though, this new system might help new users embark on their Web3 journey. After all, you could exchange NFTs within minutes directly from your phone – a procedure that doesn’t require complex blockchain knowledge.
“Web3 desperately needs a frictionless connectivity layer between the user and the blockchain. We aim to provide that infrastructure, allowing anyone to tap into web3 just by using their phone numbers,” said Rush.