The funding round is led by RW3 Ventures and IOSG Ventures, with additional participation from Raptor Group, Cypher Capital, and HerculesDAO. Sony Joseph, CEO and Co-Founder of Artifact expressed appreciation for the funding, emphasizing the platform’s commitment to a privacy-centric future. Joseph stated:
“This funding underscores our commitment to envisioning a privacy-centric future wherein users maintain full control over their in-game identity and data. With Artifact, they become true partners with game publishers and advertisers in the monetization process.”
RW3 Ventures and IOSG Ventures, as co-leaders in the funding round, expressed enthusiasm for supporting Artifact Lab’s innovative approach to mobile advertising. David Saunders, Principal at RW3 Ventures, commented, “Artifact’s novel Web3-powered digital identity solution has great potential to reshape the advertising industry by aligning incentives across all stakeholders.”
Jocy Lin, founding partner at IOSG Ventures, highlighted Artifact’s expertise in in-game ads and the ability to build strong partnerships with Web2 mobile game powerhouses. Lin stated:
“Team Artifact definitely demonstrates their expertise in in-game ads and ability to build strong partnerships with Web2 mobile game powerhouses, making them the UA expert for Web3 games and potentially other dapps.”
The funding injection will catalyze Artifact Lab’s platform development, team expansion, and overall growth acceleration. Established in 2023, Artifact Labs aims to address challenges posed by privacy restrictions and geographical regulations in the game industry, providing a solution for unified, user-owned profiles. Major AAA game publishers and 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.