Slide, a web-focused startup that provides user experience infrastructure for decentralised applications has raised $12.3 million in a seed funding round which was co-led by Polychain Capital and Framework Ventures, two crypto-focused investment firms.
The funding will assist Slide in hiring more staff, distributing more of its products to decentralized applications and building out its infrastructure.
In an interview with Coindesk, Slide CEO and co-founder Teymour Farman-Farmaian stated, “We’re enabling any user, regardless of their background or experience, to be able to use Web3. It’s really hard right now for the average user to use dapps, and it’s hard for the incremental dapp to gain any kind of exposure to normal users. Both sides are having trouble reaching each other.”
Any new user who wants to interact with a Web3 application usually has to locate third-party sources for purchasing crypto and holding assets that allow them to spend the crypto in the app. With Slide, these new users can enjoy an all-in-one tool that not only keeps users within the app but comes with features such as NFT purchases via credit card, as well as a non-custodial wallet that’s set up with an email address, not a browser extension.
Coinbase’s venture capital arm, USDC issuer Circle and investment firm Outlander Ventures also participated in the funding round. Individual investors included former Coinbase Chief Technology Officer Balaji Srinivasan, Dragonfly Capital partner Ani Pai and Polymarket CEO Shayne Coplan.
Despite being less than a year old, the company expects to have a full, open launch by the end of 2022.