Setter Raises $5 Million in Seed Funding for Wallet Technologies
Setter, a New York-based firm known for its consumer application, has secured $5 million in seed funding. The investors recognize its potential in enabling brands to explore Web3-powered commerce and innovation.
Setter Aiming Big
The Web3 application plans to utilize the $5 million funding from a16z for promotional activities like launching exclusive products and limited edition drops. The company also aims to address the complexities of existing wallet technologies.
Setter’s Scope According to the CEO
“It looks and feels like a Web2 app, but it is a full-blown smart contract wallet under the hood,” said CEO Juan Hernandez. Setter strives to seamlessly integrate Web2 and Web3 functionalities, allowing users to pay with traditional methods or convert credit card payments into crypto.
Juan Hernandez
Core Vision
The funding raised by Setter will facilitate partnerships with sneaker brands and other luxury brands, promoting networking and growth within the industry.
Hot Take: Setter’s Funding Boosts Wallet Technology Development
Setter’s recent $5 million seed funding provides a significant boost for its development of wallet technologies. With the aim of streamlining user experiences and integrating Web2 and Web3 functionalities, Setter is poised to make waves in the world of commerce. This funding will not only support promotional activities but also foster partnerships with renowned brands, driving innovation within the luxury market.
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