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Odaily Translator | Nian Yin Si Tang

Summary:

Summary:

- Venture capital firm Decasonic led the round, which also included strategic investments from Polygon Ventures and Valor Siren Ventures.

- The company is led by co-CEOs Adam Brotman and Andy Sack.

Forum3, a company that helps brands build Web3 loyalty programs, recentlyAnnounceAnnounce

Received $10 million in seed funding.

Venture capital firm Decasonic led the round, with participation from Bloccelerate, Liberty City Ventures, and Arca, as well as strategic investments from Polygon Ventures and Valor Siren Ventures.Launching in 2021, Forum3 partnered with Starbucks' marketing, loyalty and technology teams to build its NFT loyalty program, "Starbucks Odyssey," which launched Thursday to select waitlist membersStart the beta version

. Forum3 is led by co-CEOs Adam Brotman and Andy Sack.

Brotman is Starbucks' Chief Digital Officer and is best known as the designer of the Starbucks mobile app. Sack is an accomplished and seasoned venture capitalist and entrepreneur who has advised Satya Nadella and the Microsoft executive team.

“I’m passionate about storytelling and digital collectibles as a new form of loyalty we call experiential loyalty,” said Forum3 co-founder Adam Brotman. It’s exciting to add to Starbucks’ digital flywheel with innovations in engagement and loyalty.”Through the Starbucks deal, Brotman continues his longstanding relationship with his former employer and fully embraces his passion for Web3. Before founding Forum3, he was picked to be CEO of Brightloom, which was repositioned as a digital loyalty platform company with a capital injection from Starbucks. However, over the past year or so, Brotman has made it clear that he is fully committed to Web3,Get the word out on your podcast, entering Web3 for Starbuckssupply

Consulting, and formed Web3 Consulting at Brightloom before starting a new company.

It's actually not hard to see that what Forum 3 is doing now sounds a lot like what Brotman started doing at Brightloom. Earlier this year, Brightloom began integrating into the Web3 consulting services business, but only announced the news last month. He remains Brightloom's part-time chairman, or at least until this week, according to Brightloom and Brotman's LinkedIn information. It can be speculated that Brotman may have seen an opportunity to leverage his relationship with Starbucks and use their interest in building a Web3 loyalty program as a launch point for the new startup. Interestingly, just a week ago, Brightloom released a Web3 spinoff called Thred, which bills itself as a search and discovery platform for NFTs. Thred is led by Ben Straley, former Brightloom President and Chief Product Officer.

As for fresh starts, Forum3 will use the new funding to advance its business, helping consumer brands build Web3-based loyalty and engagement solutions. The funds will be used to build out Forum3's own platform, allowing brands to create their own digital collectibles and customer engagement strategies.

Forum3 also plans to create a suite of community and content tools focused on consumer brand collectibles and digital communities. The new financing will also enable the company to scale its strategic digital consulting services offering and expand its client list to include brands and other companies in the U.S. and around the world.

Companies that provide services by helping brands and creators deliver utility to their NFTs have drawn intense interest from venture capitalists as they explore the utility potential of digital collectibles to keep customers loyal.In addition to Forum3, Tropee, an NFT utility platform, recently announcedCompleted a $5 million seed round of financing

, Tioga Capital led the round, and participation included The Sandbox co-founder and CEO Sébastien Borget, Exclusive founder Thibault Launay, Geometry's Grégoire le Jeune and Gem founder Lorens Huculak, among others.