Phi raises $2m in seed funding

The funds will support the expansion of the firm’s animation, 3D art and gaming derivatives.

Blockchain-based platform Phi has raised $2m in a seed round led by Chapter One, Delphi Digital and Polygon Ventures.

Other investors included AAVE and Lens Protocol founder Stani Kulechov and The Daily Gwei founder Anthony Sassano, among others.

The funds will help the firm drive “massive” blockchain adoption by setting up a social gaming ecosystem for web 3.0 players.

Additionally, the platform plans to “accelerate the design and development of improving UI/UX and new social/gaming features”.

“We’ll tackle exciting new challenges to visualize and gamify on-chain identity, which enables further mass adoption of the web3”, Phi said.

Phi hopes to bring innovation to the social, gaming and art world by creating a community, collaborating with protocols and expanding the company’s animation, 3D art and gaming derivatives.

Chapter One’s head of product Mene Mazarakis said: “Leaning into on-chain identity and leveraging gamification will play a larger role in helping users reap the benefits of crypto.

“Phi’s gamified aspect of expressing identity through earned objects will lead to greater engagement and exploration of web3 projects.”

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Written by Isabella Aslam


Isabella is an experienced writer in B2B and B2C journalism. Alongside crypto, Isabella writes and discusses the topics of relationships and psychology. Isabella holds a first-class degree in music journalism and often interviews electronic artists and DJs.

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