Alpha Wave co-leads $3.5m round of NFT startup

Revise, an NFT programming layer, has raised US$3.5 million in its seed round led by Alpha Wave Global and 8i.

Revise co-founders Raunaq Vaisoha and Anil Dukkitpatty / Photo credit: Revise

Other investors in the round include Polygon co-founder Sandeep Nailwal, DeFi Pulse co-founder Scott Lewis, AngelList partner Utsav Somani, the Bharat Founders Fund, and Treebo board member Rahul Chaudhary.

The funds will be used for hiring and market expansion purposes.

Revise turns NFTs from static images into interactive objects that can react to applications and real-world events. For example, the platform can put a hat on an NFT if it is sunny based on inputs from Yahoo’s weather data feed.

The company also adds a layer of governance by enabling an audit trail for all revisions made to an NFT, making it easier for a creator to handle dispute resolution.

“The entire NFT space has seen a massive narrative shift as people have discovered that NFTs can be more than just digital collectables or static assets,” said Tushar Behl from the investment team at Alpha Wave Global. “We see this shift happen in gaming most prominently, but the abstract concept is broadly applicable to any real-world asset that can be tokenized.”

See also: 5 things to know before you buy an NFT

The latest investment comes amid a surge in demand for digital artwork as the NFT market is poised to hit US$147.2 billion in value by 2026.

Additionally, the Asia Pacific is expected to see the highest NFT market growth of 43% during the forecast period, driven by demand for digital assets in Singapore, China, South Korea, the Philippines, and Japan.