Digital collectibles company Forum3, the firm that helped power Starbucks’ recent web3 loyalty program, raised $10 million in seed funding.
Venture firm Decasonic led the round, with additional participation from Bloccelerate, Liberty City Ventures, Arca, Polygon Ventures and Valor Siren Ventures.
In some ways, the partnership with Starbucks comes as no surprise. Forum3 is run by co-CEOs Adam Brotman, the former Chief Digital Officer of Starbucks and VC and entrepreneur Andy Sack.
«Given Adam’s and my professional backgrounds, Forum3 is uniquely positioned as one of the leading companies in the world to help consumer brands assemble the right digital strategy and delight their customers digitally, like the approach Starbucks is taking with Starbucks Odyssey,» Forum3 co-CEO Andy Sack said in a statement.
With Starbucks, Forum3 is helping customers access digital collectibles and other web3 opportunities by removing friction, such as omitting the need for web3 wallets for customers to receive branded digital collectibles. Customers only need their credentials to begin collecting rewards. The project was launched on Polygon.
Other customers so far have included The Boston Globe newspaper and author Ben Mezrich, according to the company’s website.