• ChainwireWebacy has announced the successful closure of a $4M seed round to support its goal of making web3 safer.
• The company is building comprehensive and easy-to-use products to help people protect their self-custodied digital assets.
• Webacy’s Safety Suite of products includes Wallet Watch, Backup Wallet, Panic Button, and Crypto Will.
ChainwireWebacy Closes Seed Round
ChainwireWebacy has announced the successful closure of a $4M seed round to support its goal of making web3 safer. The round was led by gmjp and included notable investors such as Gary Vaynerchuk and AJ Vaynerchuk, Mozilla Ventures, Soma Capital, DG Daiwa Ventures, Quantstamp, CEAS Investments, Dreamers and Miraise. This brings Webacy’s total financing to over $5M following their pre-seed raise in late 2021.
Creating Intelligent Tools Using Smart Contracts
Webacy is building comprehensive and easy-to-use products to help people protect their self-custodied digital assets. Their protection technology doesn’t require custody or storage of keys which makes it ideal for mass movements off centralized environments into self-managed wallets. Webacy’s Safety Suite of products includes Wallet Watch (for real-time wallet monitoring), Backup Wallet (for loss of access, keys or phrases), Panic Button (to bulk send assets to a safe house wallet in case of an exploit or hack) and Crypto Will (to ensure assets are in the hands of beneficiaries and loved ones in the event of death). All these products are built using smart contract technology which allows customers to sign their own smart contracts that trigger the transfer of assets to backup wallets and beneficiaries if needed.
The investors backing this project have shown great confidence in Webacy’s mission statement which is “to create intelligent tools using smart contracts the way they were meant to be used” according to CEO Maika Isogawa. Louis Kang from gmjp stated that “we’re excited to back incredible founders building important companies that solve important problems in the world today in web3” while AJ Vaynerchuk from VaynerFund added that “We’ve seen a huge need for safety products amongst our communities at VaynerSports Pass and Veefriends.“
Mass Adoption For Digital Assets
As digital assets become more pervasive as part of our daily lives ownership is one element but protection is just as important if not more so for mass adoption according to VaynerFund partner AJ Vaynerchuk. With solutions like Webacy this feeling can be mitigated since users don’t have worry about wrong moves getting them hacked anymore.
The successfull closure of this seed round shows investor confidence in Webacy’s mission statement as they build comprehensive yet easy-to-use products with smart contracts that will bring enhanced digital safety for all users on web3 regardless if they are moving off centralized environments or not