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Send NFTs Using Phone Numbers: Redeem Aims to Streamline Web3 Adoption

• Redeem is a startup that enables users to send and receive NFTs using phone numbers, streamlining the process of onboarding new Web3 users.
• The startup has raised $2.5 million in pre-seed funding led by Kenetic Capital, with participation from other investors.
• By linking digital assets to something that users already know, Redeem simplifies the process of accessing Web3 with no crypto or blockchain knowledge.

Redeem – A New Crypto Startup

Redeem is a US-based startup that has developed a platform allowing users to send and redeem Non-Fungible Tokens (NFTs) using their phone numbers, making it simpler for new Web3 users to onboard into the ecosystem. The startup recently raised $2.5 million in pre-seed funding led by digital asset-focused investment firm Kenetic Capital, with participation from Monochrome Capital, VC3 DAO, The Fund, Flyover Capital, CMT Digital, KCRise Fund and KESTREL0x1 Axios reported.

Simplifying Access to Web3

The company’s main objective is to simplify the process of accessing Web3 by linking digital assets to something that the user already knows – their phone number – without requiring them to learn new systems or change behaviors. Users can link any crypto wallet on any network and scan a QR code to redeem utility NFTs such as tickets, loyalty points and in-game items while they are also able send and receive NFTs through SMS messages or Apple’s iMessage or WhatsApp without having to pay gas fees or know an external wallet address.

Kenetic Capital’s Response

Kenetic Capital Founder Jehan Chu stated that “adoption is the Holy Grail of Web3″ and Redeem’s core features enable users access without prior crypto or blockchain knowledge. He added “This is a game-changer for traditional companies looking for streamlined access into DeFi as well as enabling individuals around the world access into open finance”.

Redeem Founder’s Viewpoint

Toby Rush – founder of Redeem said “everything is about the phone number”, adding that this method links one person with one wallet through an existing verification system which eliminates almost all fraud related issues when interacting with tokens on any network. He also noted that it is generally very challenging to onboard users so they can collect NFTs and use them but Redeem makes it much easier by simply leveraging something they already know – their own phone number.


Overall Redeem aims at making it simpler for people who have little knowledge about cryptocurrencies interact with them by relying on something they already have which is their own phone number which allows them quick access into open finance where they can transact in utility tokens without paying gas fees or learning complicated systems or changing behaviors unnecessarily.