Web3 startup Virtualness, former Meta executives have successfully raised $8 million

Co-founded by former Meta employees Kirthiga Reddy and Saurabh Doshi, Virtualness has just announced the completion of an $8 million seed round backed by Blockchange Ventures.

Before diving into this piece, you may want to catch up on some relevant stories, like U.S. citizens demanding a fraud probe into the FTX scandal involving architect Gary Gensler and Sony's patent application for employing NFTs to monitor digital assets in games.

The investors that took part in this round were Polygon Ventures, F7 Ventures, Micron Ventures, Oceans Ventures, Neythri Futures Fund, Carolyn Everson, Randi Zuckerberg, Nusier Yassin (Nas Daily), Nikki Farb, Stacy Brown-Philpot, and others.

Advisors include Randi Zuckerberg and Nusier Yassin, as well as Ben Yu, the CTO of Curious Addys; Jim Louderback, the former GM of VidCon; Mai Akiyoshi, the CEO of Curious Addys; and Shiva Rajaraman, the VP Product of OpenSea.

While Saurabh Doshi was Vice President at Viacom Group & Star India and Kirthiga Reddy was managing director of Facebook in India & South Asia and an investment partner at Softbank Investment Advisers, Reddy was head of Meta, Asia-Pacific for Entertainment.

The two co-founders are using their combined decades of worldwide entrepreneurial expertise to guide Virtualness's partnerships with artists, media, brands, and technology platforms.

Virtualness is a smartphone application that allows users to create and mint their own digital valuables to share with others. With this first round of investment, Virtualness will be able to grow its team in the areas of engineering, product, and design across the United States, India, Singapore, and Dubai, as well as provide support for other blockchains and better connect with both online and offline experiences.

The creator is at the pinnacle of the business world. They played a crucial role in the development of the Web2 ecosystem by bringing in new artists and businesses, and we want to replicate that for the Web3 era. According to Reddy and Doshi, people are spending more and more time in digital environments, and as a result, they want more personalized experiences, identities, expressions, and transactions. The firm looks forward to seeing how artists and businesses translate traditional experiences into digital ones, as well as how those experiences evolve.

When it launches in early 2023, the platform will be used by verified creators and brands to make branded digital collectibles, which they can then easily share across their social media channels, interact with their fans and community in real time, give their followers access to exclusive content, and generate new revenue streams.

One of the innovators helping build Virtualness' product from the idea stage is YouTuber Nusier Yassin (Nas Daily), who has more than 50 million followers across social media platforms and is an investor in Virtualness.

Features are often made available in countries other than the United States and Europe considerably later. He believes that by working together, they would be able to open doors for artists and their supporters all around the world. According to Nusier Yassin, Kirthiga and Saurabh have the unique ability to scale cutting-edge, user-friendly technologies on a global scale while maintaining a sharp emphasis on creative revenue.

Virtuality has already bootstrapped a proof of concept on the Polygon chain, and in 2023, when the platform officially opens, it will roll out essential features for artists and brands.

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