Newman Capital Invests

23rd May 2023, Kathmandu

Newman Capital is proud to announce its investment in Openfort, a cutting-edge blockchain wallet infrastructure startup focused on Web3 gaming.

With the investment from Newman, Openfort has completed its $3 million seed round fundraising, which was co-led by Gumi Cryptos Capital and Maven 11. Game7 and NGC Ventures also participated in this round.

Driving Web3 adoption among consumers has been one of the key missions of Newman Capital. Having high-efficiency Web3 infrastructures, middleware, and tooling is the prerequisite for developing high-quality, user-friendly Web3 applications that provide a frictionless experience for not only Web3 native but for all.

Openfort’s programmable wallet-as-a-service is set to be a game-changer in the realm of Web3 gaming.

With its innovative use of account abstraction technology, it has the potential to make Web3 gaming accessible to everyone, ushering in a new era of immersive gaming experiences.

Adrian Lai, Founder, and Managing Partner at Newman Capital, added, “Web3 gaming poses a unique set of technological challenges, which often create drawbacks on user journey and experience.

To truly bring web3 gaming to the masses, advanced toolings are much needed to overcome those challenges so that game developers can create web3 games that will provide a seamless and user-friendly experience with improved security.

We are glad to support the Openfort team in delivering their account abstraction-enabled gaming wallet.”


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