EverdreamSoft spin-off Wakweli closes first funding round

Although NFTs have been advanced as a means of proving asset ownership, NFT scams and cases of copyright infringement have become commonplace. Wakweli hopes to solve such issues by ensuring that digital representations of assets are genuine and unique, i.e. not being represented by multiple tokens across the cryptosphere.

The funding will enable the company to roll out its product offerings, including a community-driven core protocol that enables NFT marketplaces, buyers, and creators to benefit from a provable mark of authenticity for NFTs and other tokenized assets.

Blockchain investment firm Summit led the seed round alongside FunFair Ventures and several business angels, with dozens of early investors pledging capital to back Wakweli’s vision of a protocol based on a decentralized consensus algorithm called Proof-of-Democracy (PoD).

“We are incredibly thrilled and fortunate to have onboarded investors and partners who share Wakweli’s vision to increase trust in the web3 ecosystem,” said Co-Founder and CEO Shaban Shaame.

Incubated by software firm EverdreamSoft, the Geneva-based Wakweli project was founded in 2021 and aims to become the reference of trust for the decentralized ecosystem, preserving the market integrity of tokenized assets and driving its liquidity.

Co-founder and CEO Shaban Shaame brings a wealth of blockchain gaming experience to the project, as does Co-founder Markéta Kortéova, who also serves as the Chief Operating Officer of EverdreamSoft. Wakweli’s third Co-Founder, tech veteran Antoine Sarraute, has been an ardent advocate of decentralized tech since 2011 and has developed multiple innovative projects within the web3, AI, and fintech space.

Wakweli launched its website, whitepaper and Alpha last year. This year, a dedicated foundation will be created to manage the venture, which encourages projects to build on its layers and apply for token grants distributed by its on-chain treasury.