Redacted, a company developing an innovative web3 entertainment ecosystem, has raised $10 million in its latest funding round. The investment was co-led by Spartan Group, with contributions from Saison Capital, Animoca Brands, and Polygon Ventures. Other participants included notable web3 founders, venture capitalists, angel investors, and prominent figures like Dingaling and Grail.
Redacted Raises $10M for Web3 Entertainment Ecosystem
What is Redacted?
Redacted is working on an "entertainment datasphere," which integrates blockchain and AI to offer a comprehensive platform where users can engage in activities such as playing, trading, and watching content while earning rewards. The ecosystem is powered by the RDAC Token, which aims to enhance user experience through targeted data protocols and provide commercial opportunities for web3 companies and decentralized applications (Dapps).
Redacted Mantra
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Over 150 Key Influencers
The company has attracted significant attention from the web3 community, with over 150 key influencers showcasing their support by adopting Redacted profile pictures. This endorsement highlights the project's appeal and its resonance with the crypto culture, encapsulated by the slogan "Don’t get rekt, get redacted."
Spartan Group partner Kelvin Koh expressed his support for the project, stating, “As another cycle starts ramping up, we’re optimistic about the Redacted team and their next phase of development. They are creating an ecosystem that maximizes value creation, community, and fun. We’re pleased to be part of this journey.”
Backed by Top VCs like Spartan Group
Raised $10 Million for Various Projects
Redacted's leadership team brings together expertise from companies like Tesla, Bank of America, Kraken, and Lego, as well as influential figures in crypto, gaming, and NFTs. The team has launched NFTs worth $1.8 million across Ethereum and Bitcoin Ordinals, generating $40 million in trading volume. They have also raised $10 million for various projects through their consultancy and launchpad and invested over $6 million in venture capital.
Qin En Looi, Principal of Saison Capital, added, “We invested in Redacted because of its energy and potential appeal to a growing audience. This team understands what web3 users want and is building an ecosystem that will attract a large and growing community. We look forward to seeing the Redacted team evolve.”
Final Thoughts
Founded in 2021, Redacted is positioning itself as a significant player in the web3 entertainment and gamification space. With this new funding and strong backing from industry leaders, the company is set to advance its mission in the digital entertainment landscape. For more information, check the official social media account on X here.
