Web3 data gamification “Phi” raises about 270 million yen in seed round

1 year ago 98

Phi (philand.xyz) Raises Funding

Web3 data gamification company Phi announced today that it has raised about 268 million yen ($2 million) in a seed round.

America’s Forefront Funds Today@chapterone @Delphi_Digital has announced a total funding of $2M USD (approximately 270 million yen)!

Founders and core teams of Polygon, Bankless, Gitcoin, AAVE, Lens Protocol, ENS, ETHGlobal, Sudoswap, Dune Analytics follow us! https://t.co/PGdY2FGxW4

— Shugo ◱ ◱ (@shugo_jpn) February 17, 2023

The lead investors are Chapter One and Delphi Digital, and the follow-up investors include Polygon Ventures, as well as major developers and entrepreneurs in the crypto asset (virtual currency) industry.

Main names include Stani Kulechov, founder of DeFi lending platform Aave Ryan Sean Adams, co-founder of Bankless Makoto Inoue (Makoto Inoue/matoken.eth), core developer of ENS (Ethereum Name Service) ) includes Mr.

Phi (philand.xyz) is a project that visualizes the usage of wallets and focuses on the formation of an “on-chain identity” and its gamification. It covers data both inside (on-chain) and outside (off-chain) the blockchain.

Phi, which launched its mainnet on Polygon (MATIC) in December 2022, has two products. In Phi Quest, you can work on various quests in cooperation with external protocols and acquire objects by clearing them.

On the other hand, in Phi Land, users can create their own land from the ENS domain owned by the user and put in-game items such as objects, images, and floors that can be obtained from quests and shops, allowing users to create their own personal wallet based on wallet activities. Web3 space can be built.

What is ENS (Ethereum Name Service)?

ENS is a service that makes it possible to use simple strings that are easier to remember as virtual currency addresses. It plays a similar role to DNS (Domain Name System) on the Internet. You can create easily identifiable addresses, for example “coinpost.eth”.

Cryptocurrency Glossary

connection:What is Ethereum Name Service (ENS), a high-value transaction? Thorough explanation of past top sales and usage

Innovation of Phi

Phi’s mission is to “bring the next million people into the decentralized world through visualization and gamification of the Web3 ecosystem.” Phi’s approach is innovative in simplifying complex actions and expressing them with concrete objects. Rob Sarrow, investment associate at Delphi Ventures, said:

Delphi Ventures looks forward to supporting the Phi team in their mission to create an open and inclusive pixel universe. Web3 and the broader cryptocurrency ecosystem are massive multiplayer games that unfold on-chain in real-time with each connection, swap and claim. But most Web3 user experiences are lackluster and fail to capture the importance and magic of one’s on-chain identity, social capital, and reputation.

Funding from the seed round will be used to accelerate UI/UX improvements and the design and development of new social/gaming features.

In addition, collaboration with more protocols is expected to realize derivative products such as 3D art, animation, and games, and to expand the community. In February, Aave’s decentralized social media “Lens Protocol” collaboration project “YASAI LENS Festival” started at Phi Quest. Rewards are distributed to users who meet the minimum requirements.

Good Lenser Post Race has just ended!

“Total Posts Collected” has just reached 35,000, so now the Lenster Race has finally ended!

Everyone who meets the minimum requirements will be able to claim their rewards from 22 Feb, be aware of it https://t.co/6BfVsWak7j pic.twitter.com/C9hbcKIt79