Redacted raises $10M for Web3 entertainment ecosystem

Redacted is building an “entertainment datasphere.” Maybe we don’t need to know exactly what that is, but Redacted just raised $10 million for its Web3 entertainment and gamification ecosystem.

Spartan Group co-led the investment, with participation from Saison Capital, Animoca Brands and Polygon Ventures. Leading Web3 founders, VCs and angel investors. And notable whales like Dingaling and Grail also participated in the round, highlighting their support for a comprehensive ecosystem of entertainment and gamification products that provide a simpler and more rewarding user experience.

Redacted said it has captivated the attention of Web3 investors and enthusiasts for its innovative marketing, with more than 150 of Web3’s top “Who’s Who” lists posting their “Redacted” profile pictures as a demonstration of their investor involvement and support in the project. Their key tagline “Don’t get rekt, get redacted” is a play on crypto culture, making light of “degens” who ought to invest in reputable teams with strong backers.

Harnessing the power of blockchain and AI, Redacted is building an ecosystem of products to form an entertainment datasphere, where Web3 users can do what they love most — play, trade, watch, and get rewarded. Powered by the RDAC Token, Redacted aims to underpin its entertainment and gamification products with a data protocol, which will provide better, more targeted experiences for users and greater commercial opportunities for web3 companies and Dapps.

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The Redacted leadership team combines impressive backgrounds from global top-tier companies such as Tesla, Bank of America, Kraken, and Lego with some of the most influential web3 thought leaders in crypto, gaming, and NFTs.

As a crypto-native team with an understanding of product development and crypto market dynamics, they have collectively launched $1.8 million in NFTs across Ethereum and Bitcoin Ordinals achieving
$40 million in trading volume from their collections. The team has also raised $10 million for projects through their consultancy and launchpad and invested more than $6 million in venture capital. The team has also allocated more than 50% of the tokens to the community and ecosystem, positioning themselves as a community-focused team.

Assisting the design and build of the Redacted ecosystem is a notable panel of advisors and consultants from industry powerhouses like Saison Capital, Confiction Labs, King/Candy Crush, Amazon, Microsoft, as well as some of the largest crypto and NFT whales and early investors.

Spartan Group partner Kelvin Koh said in a statement, “As another cycle starts ramping up, we’re bullish on the Redacted team and excited to see where their next phase of development goes. They are pushing the boundaries of what’s possible with the tech. Rather than just building standalone products, they’re creating an entire ecosystem that maximizes value creation, community, and fun. We’re thrilled to be part of this journey.”

Principal of Saison Capital, Qin En Looi, said in a statement, “We invested in REDACTED because we’re drawn by its larger-than-life energy and massive potential appeal to a growing degen audience. Truly crypto-native, this team understands what Web3 users want and is building an ecosystem that will attract a large and growing community that can leverage data and maximize value creation. We can’t wait to see how the Redacted team evolves.”

The company was founded in 2021.