DeForm manages to acquire $4.6 million in funding

This content has been archived. It may no longer be relevant.

DeForm, which is a startup engaged in Web3 marketing, has successfully managed to acquire for itself an amount of $4.6 million through seed funding. The lead player in the funding round was Kindred Ventures, along with contributions from Elad Gil, Scalar Capital, and some more companies.

DeForm is an off-shoot of Contribution Labs, situated in San Francisco. It is into making provision for blockchain-oriented tools for marketers to enable them to enhance the digital marketing arena. Marketers have the option of utilizing the DeForm platform to comprehend users depending on their history of wallet transactions, along with token ownership. This enables them to create customized marketing solutions. Though the platform is blockchain skeptical, it has been created on top of the Layer 1 Alchemy.

According to the CEO and Co-Founder of DeForm, Catherine Chang, the greatest problem that they are up against is keeping track of wallet activity. This is due to the presence of separate and multiple individual activity that takes place with regard to multiple chains. There are default framework providers backing certain chains, whereas some that do not receive any backing. As per her statement to The Block, the process is lengthy for keeping track of wallet activity in the case of users utilizing L1 and L2 blockchains.

In spite of the technical complications, DeForm has been able to forge a lucrative association with Coinbase’s latest Layer 2 Base for the benefit of the digital asset program of the platform.

As for the Base creator, Jesse Pollack, he divulges the fact that the Genesis Builder NFT was delivered in the form of a permanent on-chain record to honor the creators who initially developed their projects on Base Mainnet. In his viewpoint, associating with DeForm has brought about their ability to gather and authenticate the information that is required for a program to succeed.