Revise Raises $3.5M to Build Rails for NFT Programming

- Advertisement -


A popular criticism of NFTs is that they are just static JPEG files. Technically, of course not. These are pieces of code on the blockchain, which means that they can be programmed to have different qualities. For example, NFTs that go on sale on marketplaces like OpenSea are already programmed with royalty instructions to be given to the owner.

- Advertisement -

But what if they could be programmed to do much more?

- Advertisement -

This is a trend that we have seen in recent quarters. Earlier this year, Pearpop introduced dynamic NFTs. gain value as the social media post goes viral. NFTs in Axie Infinity change their properties as the user invades the game.

A new startup called Fixtrying to implement this ability.

- Advertisement -

It offers developers the ability to make their own NFTs interact with the data streams of their choice, which can be a web3 platform like Chainlink or a web2 output like Weather.com.

The goal, the startup explains, is to make NFTs change their properties based on events. For example, a soccer NFT could hypothetically interact with FIFA data and change its properties or media content based on actual results on the pitch.

“What programmable NFT allows you to do is also use user interaction or skill to make properties rarer,” Raunak Vaisoha, co-founder and CEO of Revise, told TechCrunch.

By programming NFTs based on user interactions, developers can encourage them to become more involved in their projects, he says.

Revise also adds a layer of storage management through its data structure to help developers resolve disputes in a reliable manner.

“Currently, the problem with dynamic NFTs is that your data must be offline. Imagine that you are playing a game and you need to wait for the block time until your game character is updated. Most people end up storing NFTs on AWS S3 or some other web2 layer,” he said. “It is for this task that our data structure was created.”

Revise is initially launching on the Polygon blockchain, but plans to expand to other blockchains in the future. Its SDK is in closed beta on NPM, and the startup already has several clients, including Ludo Labs.

The startup said Friday it raised $3.5 million in its seed round. Alpha Wave Global and 8i led the round. The Bharat Founders Foundation and a number of entrepreneurs including Polygon founder Sandeep Nailwal, DeFi Pulse founder Scott Lewis, AngelList India CEO Utsav Somani, The Graph’s Pranav Maheshwari and Treebo founder Rahul Chaudhary also took part in the round.

“There has been a massive shift in storytelling throughout the NFT space as people have discovered that NFTs can be more than just digital collectibles or static assets. We see this shift most visible in games, but the abstract concept is broadly applicable to any real asset that can be tokenized. In addition, as more and more complex utilities are built on NFT, the aspect of traceability and transparency in governance will take center stage,” Tushar Bel of Alpha Wave Global said in a statement.

“We loved Revise and its founders for their deep understanding of the product and visionary vision of the space. What the Revise team is building could be the most fundamental layer for NFT development and programming, just like Chainlink did for Defi!”


Credit: techcrunch.com /

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox