Connect: Blockchain & Web3 Competition Announces Its Winner, NFT Company Reveel
Connect, an event by Publicize, brings together startups to pitch their ventures to a panel of media judges and receive valuable feedback. Today, the bi-monthly connection platform joining stakeholders from different industries announced the winner for its latest competition Connect:Blockchain & Web3, NFT portfolio company Reveel.
A dynamic and insightful competition, yesterday’s event unearthed many conversations about the current and quickly evolving market of blockchain technology. The timeliness of this event was impeccable as in 2022 blockchain is being deployed to new heights—one example being records of unique digital objects known as nonfungible tokens (NFTs).
This, coincidentally enough, is exactly the realm that the winning startup exists in. Let’s take a closer look at NFTS, and what company Reveel is doing to help accelerate blockchain and Web3 in the NFT world.
An Emerging Currency Concept: NFTs
NFTs exploded in 2022, conjuring a $41 billion market seemingly out of nowhere.
An NFT is essentially a digital “deed” and can represent any piece of work that can be digitized—from drawings, to music, to a domain name, to a tweet. A lot of the current excitement around NFTs stems from being able to use tech to sell digital art.
In a short amount of time since the genesis of NFTs, which was in 2014 with digital artist Kevin McCoy minting the first-known NFT ‘Quantum’ on the Namecoin blockchain, NFTs have progressed a long way. Billboard Music has even termed the latest crypto as a goldrush and Rolling Stone says they are a revolutionary concept.
Revealing a New Platform for NFTs
Competition winner Reveel is a startup geared at building a financial operating system for Web3 Creators.
For those who don’t know, Web3 is just another form of cryptocurrency that runs on a “permissionless” blockchain. Web3 has been touted as the future of the internet, serving as a new iteration of the World Wide Web which revolves around concepts such as decentralization and token-based economics.
Reveel is a financial stack for web3 creators that automates paperwork for creators, making it most relevant for those looking to buy and sell NFTs. Its platform looks to empower artists online—which in this day and age most are in some way, shape, or form.
Reveel aims to use technology that educates and enables creators to manage the administrative side of content creation more professionally, giving them the opportunity to focus on what they love—creating.
Connect events bring together trailblazing startups and members of the media to stimulate exchanges on some of the most buzzworthy topics within breakthrough industries in 2022. The next event will be on May 31st, uniting movers and shakers in the sustainable technology space.