AWST founders Arun Sugumaran (left) and Aleksandar Abu Samra
Singapore-based Web3 company AWST officially launched today with US$1.7 million in funding from investors such as East Ventures, 500 Global, and Antler.
The company also partnered with online payment processing company Stripe to facilitate mainstream NFT transactions.
The company called the partnership “a big step” in making NFT transactions commercially viable for business. The joint effort is poised to position NFTs for mainstream adoption by binding functions and utility such as memberships, tickets, and expanded experiences through the technology.
“The Web3 space is evolving rapidly, and businesses are keen to connect with their existing customers in new ways and gain new customers from NFT communities. We believe we have the right tech infrastructure and the experience to guide our clients to expand their business and engagement capabilities through Web3 and NFTs,” said AWST CEO Arun Sugumaran.
Also Read: The future of blockchain technology goes beyond just cryptocurrency and NFTs
AWST was founded on October 2020 by Arun Sugumaran and Aleksandar Abu Samra. The company brings Web3 to brands by creating platforms for users to launch NFT collections across different blockchain protocols that are optimised for each project’s needs. AWST’s solutions can be integrated into existing technological frameworks seamlessly. Their expertise helps incorporate utility to these platforms, creating strong foundations for clients to leverage the growing Web3 ecosystem.
The company has previously set up an NFT vending machine at the National Gallery. According to them, the public’s response shows the general public’s growing reception towards Web3.
Moving forward, AWST wants to build tools and platforms that connect organisations with NFT projects to facilitate that exchange of value in the real world.
The company is a community partner for the Singapore Week of Innovation & Technology event, held in Singapore from October 25-28. AWST’s tech solutions will offer Proof of Attendance Protocol (POAP) NFTs that unlock unique rewards for event attendees.
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Image Credit: AWST
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