Web3 Builders, a new Web3 startup, bagged $7 million in seed funding from Road Capital, OpenSea Ventures, and other investors. The startup also announced the launch of its first offering, TrustCheck, which aims to make web3 a safer space.
OpenSea-backed Startup Web3 Builders Complete a $7M Oversubscribed Funding Round
Web3 Builders secured $7 million in a seed funding round led by Road Capital. Other investors that participated in the round include OpenSea Ventures, Sparkle Ventures, Greylock, and Global Founders Capital, among others.
In addition to the funding, Web3 Builders also announced the rollout of its first product called TrustCheck – a free Chrome extension that seeks to detect and prevent potential scams for those that use and trade cryptocurrencies, smart contracts, and NFTs. TrustCheck notifies users when it detects high-risk transactions, allowing them to cancel them before falling prey to scams.
“TrustCheck automatically warns users when they attempt to go to known phishing sites, or it detects the presence of wallet drainer code,” said Riccardo Pellegrini, CEO of Web3 Builders and a former executive at Amazon Web Services. TrustCheck utilizes machine learning (ML) technology and a number of on-chain and off-chain data sources to identify risky activities.
“When we think about the next billion users adopting crypto, you have to take these really powerful concepts, and these powerful engines under the hood, and create really simple and…
