VRYNT Raises $1.5 M to Allow Influencers to Decentralize Using NFTs

By Juan Fajardo Juan Fajardo has been verified by Muck Rack's editorial team
Published on December 20, 2021

VRYNT, a blockchain Startup based in Los Angeles, has raised $1.5 million in seed funding to help influencers harness the true power of their audiences.

The funding round counted with participation from several strategic partners like 15X Grammy Award-winning Mix Engineer/Producer Jaycen Joshua and Steve Miller, Co-Founder of Anomaly Create. The capital will allow VRYNT to focus on its aggressive growth efforts with the aim to launch the beta version of its platform during the first quarter of 2022. Steve Miller referred to his participation in the round by stating:

“VRYNT completes this disruptive transformation with the democratization of economic rewards for a new generation of community generated content. As a result, our artists now have the full package of influence and reward to successfully drive into the next evolution of NFTs and the Metaverse.”

VRYNT was created with the mission to bring e-Commerce based NFT monetization to the upcoming Metaverse with a new and innovative decentralized engagement model that gives control back to influencers and brands by removing the middleman. The startup, which has its corporate offices in The Sandbox “metaverse,” will focus on providing tools for the creation of NFTs in an easy manner, allowing fans to acquire packs of component cards to support their favorite creators. Eric Meyer, Vice Chairman of VRYNT, said in this regard:

“The VRYNT platform is poised at the crossroads of disruption in commerce, entertainment, and a new economy of ‘meta-Culture’ value creation. VRYNT offers Social Influencers transformative financial control of their respective brands and a fresh way to engage their audience.”

While the NFT ecosystem has grown in popularity over the past months, it has remained highly centralized as a result of the push by major players in the crypto space to create their own marketplaces. This centralization combined with the hype around the Metaverse has resulted in an increasing demand for decentralized NFT marketplaces, which startups like VRYNT are aiming to capitalize on.

“We are absolutely thrilled to release the VRYNT AI based NFT creation platform in Q1 2022.  said Oisin Lyons, Head of Community and Operations for VRYNT in a quote to Grit Daily.  “The platform will give creators unprecedented engagement with their audience, and unleash a new level of creativity from the community.”

By Juan Fajardo Juan Fajardo has been verified by Muck Rack's editorial team

Juan Fajardo is a News Desk Editor at Grit Daily. He is a software developer, tech and blockchain enthusiast, and writer, areas in which he has contributed to several projects. A jack of all trades, he was born in Bogota, Colombia but currently lives in Argentina after having traveled extensively. Always with a new interest in mind and a passion for entrepreneurship, Juan is a news desk editor at Grit Daily where it covers everything related to the startup world.

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