Authentick raises $4M in seed round led by Temasek's Menyala

Authentick, an innovative platform specializing in digital collectibles or NFTs, has just emerged from stealth mode, announcing a successful seed funding round of $4M. The leading investor for this round is Menyala, a venture-building platform established by Temasek.

• Funding details: Authentick's seed funding round amounted to $4M with Menyala leading the investment.

• Objectives: The funds will be used to expand Authentick's user base and diversify its product offerings.

• Unique Selling Proposition: The platform aims to democratize access to digital collectibles. It does so by enabling users to purchase NFTs without needing a Web3 wallet or access to a crypto exchange.

• Technical Solution: Authentick has developed a system that reformats digital collectibles, making them compatible with existing e-commerce platforms like Lazada.

• Benefits for Users and Brands: These digital collectibles can unlock features in games and apps. Additionally, Authentick plans to offer exclusive deals for brand partners aiming to broaden their reach, managing the distribution of their digital collectibles across major online retailers.

This is just the first step in their journey to becoming a comprehensive digital asset platform according to Boyko Draganov, CEO of Authentick.