Artifact Lab Successfully Raises $2 Million in Pre-Seed Funding Round
Artifact Lab, a pioneering in-game user profile and monetization platform, has successfully concluded a pre-seed funding round, raising $2 million. The funding, led by RW3 Ventures and IOSG Ventures, demonstrates strong support for Artifact's innovative approach to mobile advertising.
Sony Joseph, CEO, and Co-Founder of Artifact, expressed gratitude for the funding, highlighting the platform's dedication to a privacy-centric future. Joseph emphasized that with Artifact, users gain control over their in-game identity and data, becoming genuine partners with game publishers and advertisers in the monetization process.
RW3 Ventures and IOSG Ventures, co-leaders in the funding round, praised Artifact Lab's novel Web3-powered digital identity solution. David Saunders, Principal at RW3 Ventures, sees the potential for Artifact to reshape the advertising industry by aligning incentives across all stakeholders.
Jocy Lin, Founding Partner at IOSG Ventures, emphasized Artifact's expertise in in-game ads and its ability to build strong partnerships with Web2 mobile game powerhouses. Lin stated that Artifact is positioning itself as the user acquisition expert for Web3 games and potentially other decentralized applications (dApps).
The injected funds will catalyze Artifact Lab's platform development, team expansion, and overall growth acceleration. Established in 2023, Artifact Labs addresses challenges posed by privacy restrictions and geographical regulations in the gaming industry, providing a solution for unified, user-owned profiles. Major AAA game publishers, as well as mid-sized and smaller ones, are adopting Artifact’s solutions, while Web3 games leverage the platform for efficient user acquisition.
RW3 Ventures focuses on investments in blockchain technologies, decentralized finance, and the long-term evolution of Web3. IOSG Ventures is a community-friendly, research-driven, early-stage venture firm with a diverse portfolio. Cypher Capital specializes in early-stage investments in Web3 infrastructure, and HerculesDAO represents a Web3 collective focused on ecosystem growth. The funding round marks a significant endorsement of Artifact Lab's vision and its strategic role in shaping the future of in-game advertising.
Source: adapted from an article by Baytan Uğur Yem, Writer for Mobidictum.