Launched in 2018, start-up Venly has developed the tools needed to make the metaverse accessible. At the beginning of May, the start-up raised 21 million euros. Now he recruits new workers every week.
When it comes to talking about the metaverse and other web3, the major news-producing companies are often located on the other side of the Atlantic. However, the phenomenon of the moment is not limited to the American market. In our country, one of the most well -known players in the parallel digital world is called Venly. Founded in 2018, this Antwerp start-up has set its own task to be an indispensable partner for those seeking a place in the virtual universe. Actually, it offers a series of essential services and tools for platforms and developers.
Venly, for example, has developed a “wallet” system. It simplifies the management of internal transactions in a universe. Start-up services are also emerging in the virtual world to connect the real world with companies looking to enter the trendy niche. “E-commerce is one of our main goals and we built it in the same direction “, explains Yan Ketelers, CMO of Venly. On the one hand, for companies active in the metaverse that want to sell virtual objects and physical derivatives. And on the other hand, for those companies already have a classic offer and want to get into the metaverse, ”explains the marketing manager.
NFT Technical Provider
Flemish society also strictly follows the trend around NFTs. It offers brands, personalities and companies to ensure the implementation of the technical aspect behind the creation of one of these ‘non-fungible Tokens’. “Influencer Logan Paul and artist Lewis Capaldi, for example, sell NFTs based on our technology,” said the marketing manager.
In their first steps, initiatives around the metaverse are evolving in all directions. To make sure you’re not betting on the wrong horse, The company aims to be as open and general as possible. “Our technology is not linked, for example, to a particular blockchain. Today we are working on almost ten different blockchains”, explains the group’s CMO. “This allows us to not be locked into one technology and to easily move to another blockchain if the evolution of the sector demands it someday”.
“We were there before the hype caused by the Meta announcement. It gives us legitimacy.”
Although less well known to the general public, Venly is still getting started a name in its sector. Initially, he notably worked on a first project with the Ubisoft giant. Today, its main client is the French platform “The Sandbox”, which over the weeks has become one of the best anchored references in the metaverse universe. “We launched in 2018. So we were there before the fad brought about by the announcement of Meta. It gives us legitimacy. We also grew into projects. In 2018, The Sandbox will be smaller. The disadvantage of being among the pioneers is that we also have customers with the first failures in the sector ”, explained the manager.
21 million were collected in May
Things seem to be getting better for Venly. In early May, the start-up completed its second fundraiser. He gathered€ 21 million from a series of investors pooled by Courtside Ventures. The first supporters, who were present at the initial fundraiser of two million euros, also participated in the new round of funding, along with the Imec.iStart incubator.
“We’re in a new sector where legal issues are still plentiful.”
The money raised is intended to provide substantial growth assistance, through massive recruitment. “We hire new workers every week. We are currently 38. We hope to reach one hundred by the end of the year “, said Yan Ketelers. On the revenue side, the group is also recording a significant increase.” In 2021, turnover will be approximately one million euros. We have already passed this milestone for 2022 “, Yan Ketelers assured. While the group is obviously looking for a good share of developers, Venly also wants to strengthen its legal team.” This aspect of the activity is one of our biggest challenges. We are in a new sector where there are still a lot of legal issues. American companies are less careful in this aspect, but we prefer to move forward in a safe way. However, it’s not always easy to answer questions about compliance or taxation. “