In Brief
The funding round saw participation from various prominent investors, including Aglaé Ventures, MoonPay, Near Foundation, Samsung Next, and Sparkle Ventures, among others.
The platform currently boasts a client base that includes industry leaders like LVMH, The Sandbox, Moonpay, and Mocaverse.
Absolute Labs, specializing in wallet relationship management, has secured an $8 million seed funding round with contributions from Aglaé Ventures, Alpha Praetorian Capital, The Luxury Fund, Near Foundation, MoonPay, Plassa Capital, Punja Global Ventures, Samsung Next, Sparkle Ventures (a division of Animoca Brands), and W3i.
The funds will be allocated towards hiring skilled software developers and engineers proficient in blockchain technology and marketing strategies, as well as establishing key partnerships to enhance the platform’s presence in the web3 CRM sector.
A variety of well-known brands have taken notice of the platform, which serves notable clients including LVMH, The Sandbox, Moonpay, and Mocaverse. With its web3 CRM offerings, brands can leverage wallet data from public blockchains to achieve detailed data analysis, create targeted marketing segments, and run multi-channel campaigns like NFT airdrops. Furthermore, the platform empowers brands to interact with their communities and engage in various activities.
In response to the recent developments, Franck Le Moal, LVMH’s Chief Information Officer, expressed: ‘We are thrilled to collaborate with Absolute Labs as we delve into the potential of Web3 data to enhance our clients’ experiences. Their innovative solution will play a crucial role as luxury and FMCG brands delve deeper into the Web3 landscape.’
Discussing the challenges marketers face in the web3 realm, Samir Addamine, co-founder and CEO of Absolute Labs, noted that while wallets offer public visibility, they maintain user anonymity. He emphasized that no existing web2 CRM platforms adequately provide the rich wallet data and automation needed.
‘WRM maintains real-time data on over 400 million wallets, which can be filtered based on various criteria such as interests and behavioral patterns,’ he explained.
he said.
What sets Absolute Labs apart is its robust data warehouse, developed by experts with substantial enterprise big data experience to facilitate segmentation across both web2 and web3 landscapes. As an enterprise-level solution, the integration of web2 and web3 data is conducted with the end user’s consent.
‘The platform allows businesses to seamlessly integrate their existing web2 data into the system, enabling effortless cross-channel communication. It includes functionalities that link wallets to assets such as email addresses and social media profiles when provided by users,’ Addamine elaborated. ‘A key point is that consumers control how their data is shared and used. Even if they choose to stay anonymous, marketers can still engage with them in a timely and relevant manner.’
Critical insights available for growth and marketing teams encompass:
- On-chain activity
- Other assets in a wallet, such as NFTs and DeFi holdings.
- Buying power
- Lifestyle interests
- Engagement history
According to Addamine, one key client leveraging the Absolute WRM platform is a leading Ethereum gaming platform that integrates NFTs within its ecosystem. This client aimed to specifically target genuinely engaged community members rather than those merely flipping assets.
By utilizing Absolute Labs’ web3 insights and segmentation tools, this gaming platform was able to scrutinize wallet holdings, track transaction history, and analyze web2 customer data to effectively identify and monitor their target audience over time.
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