Although no one knows exactly what it is, Redacted has reportedly raised $10 million for its Web3 entertainment and gamification ecosystem as the company continues building an “entertainment datasphere.”
The investment is co-led by Spartan Group with participation from Saison Capital, Polygon Ventures, and Animoca brands. Notable whales such as Dinagling and Grail also reportedly participated in the round. By doing so, the groups have stressed their support for a comprehensive ecosystem of entertainment and gamification products that provide a more rewarding user experience through simplification.
Over 150 of Web3’s top “Who’s Who” lists have posted their “Redacted” profile pictures, proving it has captured the attention of investors and enthusiasts. The profiles are demonstrations of the level of investor involvement and support the project is attaining. The company’s tagline is a play on crypto culture, as it reads, “Don’t get rekt, get redacted,” which makes light of “degens” who would be better off investing in more reputable teams with robust backers.
Founded in 2021, Redacted is essentially crafting an ecosystem of products to build an entertainment datasphere by utilizing the power of blockchain and AI technology. The Redacted ecosystem will operate with Web3 users free to play, trade, watch, and get rewarded—exactly what they love the most. Redacted is powered by the RDC Token and looks to use a data protocol to underpin its entertainment and gamification products. This will essentially offer better, more targeted experiences.
Those involved with the leadership team at Redacted boast impressive backgrounds stemming from various top-tier global companies such as Tesla, Bank of America, Lego, and Kraken, bringing together some of the most influential Web3 thought leaders in gaming, crypto, and NFTs.
The team is made of crypto-native professionals who clearly understand the world of product development and crypto market dynamics. They have collectively launched $1.8 million in NFTs throughout Ethereum and Bitcoin Ordinals. The team has traded $40 million in volume from their collections. Furthermore, they have used their consultancy and launchpad to raise $10 million for various projects and invested over $6 million in venture capital. The team has also positioned itself as community-focused after allocating over 50% of the tokens to the broader community and ecosystem.
A notable panel of advisors and consultants from different industry powerhouses are assisting with the design and build of the redacted ecosystem. The most well-known of these are companies such as Saison Capital, King/Candy Crush, Confection Labs, Microsoft, and Amazon, along with some of the largest crypto and NFT whales, as well as early investors.
Kevin Koh, partner at Spartan Group, said in a statement, “As another cycle starts ramping up, we’re bullish on the Redacted team and excited to see where their next phase of development goes. They are pushing the boundaries of what’s possible with the tech. Rather than just building standalone products, they’re creating an entire ecosystem that maximizes value creation, community, and fun. We’re thrilled to be a part of this journey.”
Qin En Looi, Principal of Saison Capital, stated, “We invested in REDACTED because we’re drawn by its larger-than-life energy and massive potential appeal to a growing division audience. Truly crypto-native, this team understands what web3 users want and is building an ecosystem that will attract a large and growing community that can leverage data and maximize value creation. We can’t wait to see how the Redacted team evolves.”
