Inery, a decentralized data management system, has secured an investment from web3-focused blockchain VC firm Metavest in the first week of September at the valuation of $128m.
Through this funding, Inery aims to expand its use cases—particularly in GameFi, where the company seeks to explore the full potential of the booming gaming industry with verified digital ownership of assets. Additionally, it aims to build a space for its users to create and share NFTs.
Meanwhile, Inery provides low-cost, reduced latency, secure and tamper-resistant way for data management. The data management system aims to ensure users, including gamers and businesses, retain control of their data in the metaverse via owner-controlled data assets.
Based in Singapore, the company has branch offices in Switzerland, UAE and Serbia. Its use cases can be applied to diverse sectors, including governments, enterprises, aviation, GameFi, healthcare and metaverse. It provides a potential cross-chain solution for users to interact with their data assets in the entire metaverse domain using its DB solution.
The project rolled out its first public testnet on August 10, 2022, preceding its upcoming launch and is also scheduled for listing at the end of the third quarter of 2022.
“Inery is very selective when it comes to new partnerships and collaborations. We aim to become a pillar of web3, which is why when Metavest showed interest in our project, we were more than happy to partner with a metaverse and NFT-focused platform. We believe that Inery and Metavest can extensively help each other reach both companies’ goals,” said Inery CEO and co-founder, Dr. Naveen Singh.
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