New Crypto Startup Enables Users to Send NFTs Using Phone Numbers – Is This The Future of NFTs?

The startup raised $2.5 million in pre-seed funding led by digital asset-focused investment firm Kenetic Capital, with participation from Monochrome Capital, VC3 DAO, The Fund, Flyover Capital, CMT Digital, KCRise Fund, and KESTREL0x1, Axios reported.

Redeem is a Web3 technology provider that has developed a platform allowing users to send and redeem NFTs using their phone numbers.

Users can link any crypto wallet on any network to their phone numbers which then enables them to scan a QR code to redeem utility NFTs such as tickets, loyalty points, in-game items, etc.

They can also send and receive NFTs through SMS, Apple's iMessage, or WhatsApp without having to pay gas fees or know an external wallet address.

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