Intract Secures $3 Million Funding Led by Alpha Wave Global and BITKRAFT Ventures to Expand Web3 Platform
- ByStartupStory | December 20, 2023
Intract, a Web3 platform founded in 2022 by Abhishek Anita, Apurv Kaushal, and Sambhav Jain, has successfully raised $3 million in funding led by Alpha Wave Global and BITKRAFT Ventures. Other notable investors include Gumi Cryptos, Polygon Ventures, DeVC, Tokentus, MoonPay, Web3 Studios, as well as angel investors from companies like Coinbase and Alchemy.
The funding will be utilized to double the team size and scale the platform with the aim of reaching a billion users. Intract offers a unique concept of ‘quests’ designed to educate users about emerging technologies such as blockchain and reward them for becoming early adopters of Web3 companies. These quests provide an interactive way for users to learn about new products and services while earning incentives in the form of crypto, NFTs, and loyalty points.
Marketers and founders are taking note of the potential benefits of Web3 quests, which can effectively attract new users and foster loyalty. Intract has already become a preferred platform for many projects looking to enhance user engagement and expand their reach.
Looking ahead, Intract plans to further scale its operations and expand its ecosystem of products. The platform has already seen substantial growth, with over two million active users and partnerships with more than 1,000 companies including industry leaders like Binance, Polygon, and MetaMask. Linea, a layer-2 blockchain, recently launched its quest on Intract, drawing in millions of users and facilitating over $1 billion in volume.
“Intract’s vision is to build an ecosystem that helps users unlock value from new financial opportunities and digital economies created by Web3,” said Sambhav Jain, Co-founder and CEO of Intract. “We are just getting started with our strong network effects and profitable business model, and Intract is well on its way to becoming the ecosystem giant of Web3.”
Tushar Behl of Alpha Wave expressed excitement about supporting Intract’s expansion, stating, “Intract’s innovative blend of community and rewards is transforming user distribution in Web3. Their impressive growth in user base is a testament to their success. We’re excited to support Intract as they expand and bring Web3 to a wider audience.”
Follow Startup Story
Related Posts
