Authentick Raises $4M Funding to Simplify NFT Purchases

Authentick Raises M Funding to Simplify NFT Purchases

Authentick, a new player in the digital asset market, has successfully raised $4 million in seed funding led by venture firm Menyala. The company has also unveiled its innovative NFT platform, Authentickator, and formed significant partnerships with major online platforms including Lazada, TikTok, and Shopify.

The injection of capital comes from Menyala, the venture capital arm of Temasek, indicating strong backing for Authentick’s business model. Coinciding with this financial milestone, Authentick has launched Authentickator, a platform designed to facilitate the browsing, purchasing, and authentication of NFTs for users without the need for a cryptocurrency wallet.

Digital Collectibles Made Accessible

The Authentickator platform is pioneering in its approach to integrate digital collectibles with familiar Web2 interfaces. By allowing users to employ standard payment options for NFT purchases, Authentick aims to make digital ownership a mainstream activity. This strategy eliminates the complexities associated with crypto wallets, thereby attracting a wider audience to the NFT space.

In line with its mission to democratize digital asset ownership, Authentick has established partnerships with key players in the online space. Southeast Asia’s e-commerce leader, Lazada, along with social media powerhouse TikTok and e-commerce platform Shopify, are now aligned with Authentick. These collaborations enable customers to purchase NFTs directly on popular platforms they are already using, streamlining the process and enhancing user experience.

Vision for the Future

The vision of Authentick extends beyond the current capabilities of Authentickator. Boyko Draganov, CEO of Authentick, envisions the platform evolving into a comprehensive digital asset ecosystem that includes exclusive services and products, as well as Authentick-hosted wallets. This future-oriented perspective aims to position Authentick as a key player in the industry, especially as it seeks to attract a broad user base.

Security and Authenticity In an industry that’s been plagued with concerns over scams and fraud, Authentick is taking a proactive stance. By integrating artificial intelligence with meticulous human oversight, the company is committed to ensuring the authenticity and security of transactions on its platform. This dual approach is expected to foster trust and compliance within the Authentickator environment.