Blockchain infrastructure services developer Stack has announced raising $3 million in seed funding. The venture firm Archetype led the round with participation from Coinbase Ventures, Scalar Capital, A.Capital, Balaji Srinivasan, Nadav Hollander, Henri Stern, Cooper Turley, and Colin Armstrong.
Executives Share Key Insights
Stack is creating a framework for assigning and tracking data on blockchain ecosystems, including point allocations, leaderboards, and secure token usage. Users can exchange their points for ERC-20 tokens, Ethereum, or other assets. Stack aims to provide more affordable and simpler blockchain data, deterring users from farming steps or misusing a project’s financial system for personal gain. Ash Egan, the founder of Archetype, commented on the process:
“Stack is at the forefront and center at the dawn of the application era for crypto. As we enter this phase of the cycle, Archetype continues its commitment and excitement for consumer products and infrastructure.”
Stack CEO and Founder Graeme Boy also made a statement regarding the issue:
“I believe that loyalty programs in blockchain ecosystems add more value and security, enabling consumers to adapt more quickly while reducing risk for both brands and consumers. Point systems can seamlessly integrate with the natural strengths and use cases of blockchain ecosystems.”
Corporate Companies and Web3
The investment momentum in the cryptocurrency market continues to grow, especially for companies serving in blockchain ecosystems. Recent investment rounds clearly show corporate companies’ desire to be involved in this field.
Web3 space, particularly the GameFi sector, continues to attract traditional Web2 companies to become a part of the blockchain ecosystem. The simplification and significant cost reduction of customer loyalty programs through blockchain technology continue to draw corporate interest.
