The NFT Revise programming layer raised $3.5 million in its funding round led by AlphaWave Global and 8i. Other significant investors in the round include Sandeep Nailwal of Polygon, Scott Lewis of DEFI Pulse, Utsav Somani of AngelList, Bharat Founders Fund and Rahul Chaudhary of Treebo. Funds will be used for hiring and expansion.
Revise offers developers the rails to program NFTs to interact with applications and data. This transforms NFTs from static images into interactive objects that can react to real-world applications and events. Allow users to create their own interactive metaverse.
With the Revise SDK in their toolkit, developers can configure a trigger based on the data stream of their choice, whether it’s an application event or a public data stream that’s served from from Web3 platforms like Chainlink or Web2 outlets like Yahoo.
Then, using the Revise programming layer, the developer tells the NFT how to react to the defined trigger. For example, based on Yahoo’s weather data feed, a simple program could force my NFT to wear a cap if it’s sunny outside. This is infinitely customizable. The developer can choose their own storage layer based on their latency and security needs, either on Web3 layers like IPFS or Web2 layers like Amazon S3.
Additionally, Revise adds a governance layer for storage through its data structure, allowing an audit trail for all revisions made to an NFT based on schedule, so an NFT creator can manage resolution of issues. disputes reliably and transparently.
Applications across industries are adopting NFTs. The main drivers so far have been games, social media, music, sports and various other spaces. This shift in adoption moves NFTs from culture to utility. This means that an NFT goes from a simple JPEG to an interactive object.
Revise was co-founded by serial entrepreneurs Anil Dukkitpatty and Raunaq Vaisoha, who were previously co-founders of Elemential Labs, a blockchain startup that has worked with major companies such as NSE, NSDL, CAMS, and ICICI Bank, among others.
Raunaq Vaisoha, co-founder of Revise, said, “As NFTs move from culture to utility, Revise aims to lower the barrier to programming NFTs. With Revise in their toolkit, developers can offer creative and powerful utilities to their community through their NFT without sacrificing governance.”