Quadrata Network
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Quadrata Network

Quadrata is proud to announce its $7.5 Million Seed Round, led by Dragonfly Capital

Over a year ago, Quadrata set out to solve the holy grail problem that is Identity and Reputation in Web3. Today, we are proud to announce our $7.5 Million seed round, led by Dragonfly Capital. The raise also saw participation from institutional investors such as Franklin Templeton, Abra, GSR Ventures, Orange DAO, Fellows Fund, GreatPoint Ventures and August Capital — Prominent Angel investors include Balaji Srinivasan (FRM Coinbase), Ryan Selkis (Messari), Mathieu Nouzareth (The Sandbox), Zeneca (ZenAcademy) and Wilson Lee (The Littles).

Raising capital during arguably the biggest shakeout in crypto is no easy task, and it is a testimony of the type of partners we are setting out on our journey with.

The funds will allow us to grow our ecosystem with the goal of integrating hundreds of dApps and offering the Quadrata Passport to millions of blockchain users. Our goal remains to become a global ID solution across multiple blockchains. In addition, we are partnering with TransUnion to create a native on-chain reputation score that will reward users for good behavior.

To allow Web3 projects to provide a safer and more secure experience for its users, the Quadrata NFT Passport will host verifiable identity information and compliance review ratings with the help of its privacy preserving and sybil resistant technology. This can aid web3 initiatives such as play-to-earn games, NFT drops or token airdrops to mitigate the risk of automated bots exploiting the transparent nature of blockchain to get ahead of real users.

What’s Next?

We have an expansive roadmap for the rest of the year into 2023, with plans to develop our passport technology to other blockchains, decentralizing its network and rapidly growing its ecosystem by partnering with projects to make on-chain identity available for institutions and users. To learn more about Quadrata, please visit quadrata.com.

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Fabrice Cheng

Fabrice Cheng

Co-Founder & CEO of Quadrata Network