July 31, 2024
We.Rich, a User Generated Asset (UGA) platform, has closed a $2 million seed funding round led by Folius Ventures and Animoca Brands.
This investment enables We.Rich to empower users to create and trade crypto assets, marking a shift from Professionally Generated Assets (PGA) to UGA in the Web3 era.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Lead Investor | Category |
$2M | Jul 31, 2024 | Seed | $2M | Folius Ventures, Animoca Brands | Web3 |
Democratizing Asset Creation
Traditionally, large institutions and professional teams dominated crypto asset creation. We.Rich breaks down these barriers, enabling anyone to become a founder through a user-friendly platform. Key features include:
One-Click Free Launch: Combining Bonding Curve technology with Coinbase Smart Wallet integration, We.Rich simplifies asset launch, offering secure, fairly launched assets with instant liquidity and zero gas fees.
Diverse Asset Creation: We.Rich supports tokenization of various content types (images, text, videos) with plans to expand to any link or file in the future.
AI-Powered Recommendations: An AI engine analyzes user data to suggest valuable assets based on their interests.
Farcaster Integration: Users can seamlessly log in with Farcaster and simplify UGA operations through the Frame function.
We.Rich plan to extend its offering beyond asset creation. The platform is built on Base, Coinbase's Layer 2 solution, for scalability and leverages Coinbase's support. We.Rich plans to introduce features like bullet comments, live streaming, and VIP systems to foster a thriving social and financial UGA ecosystem. Additionally, integration with Farcaster and Coinbase Smart Wallet opens doors for mass adoption.
We.Rich plans to issue its own governance token, RICH. Token distribution considers user contributions (launched assets, quality, transaction volume). Early participants and active users will receive airdrops. Future RICH token utilities include transaction fee buybacks, staking rewards, and ecosystem benefits.
Website: https://we.rich
About Investors
Folius Ventures invests, popularizes, and participates in the construction of the Web3 ecosystem. Founded in 2021, Folius Ventures is a venture capital investment firm based in New York, New York. The firm seeks to invest in web3, blockchain, and cryptocurrency sectors in the APAC region. This firm is a Registered Investment Adviser (RIA).
Location: New York, USA
Website: https://www.folius.ventures/
Animoca Brands, is a Web3 leader that leverages blockchain to deliver digital property rights to consumers around the world to help to establish the open metaverse. Animoca Brands is one of the most active investors in Web3, with a portfolio of over 400 Web3 investments, both directly and through Animoca Ventures, including Yuga Labs, Axie Infinity, Polygon, Consensys, Magic Eden, Fireblocks, OpenSea, Dapper Labs, Yield Guild Games, and many more.
Location: Hong Kong
Website: https://www.animocabrands.com/
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