Forum3, the digital collectibles business that powered Starbucks’ recent web3 loyalty program, has raised $10 million in early funding.
Decasonic led the investment, with Bloccelerate, Liberty City Ventures, Arca, Polygon Ventures, and Valor Siren Ventures also participating.
In some ways, the collaboration with Starbucks is unsurprising. Forum3 is led by co-CEOs Adam Brotman, a former Starbucks Chief Digital Officer, and VC and entrepreneur Andy Sack.
“Given Adam’s and my professional experiences, Forum3 is perfectly positioned to assist consumer businesses create the proper digital strategy and delight their customers digitally, similar to the approach Starbucks is pursuing with Starbucks Odyssey,” Forum3 co-CEO Andy Sack said in a statement.
Forum3 is assisting Starbucks customers in gaining access to digital collectibles and other web3 opportunities by decreasing friction, such as eliminating the need for web3 wallets for users to receive branded digital collectibles. To begin collecting rewards, customers only need their credentials. Polygon was used to initiate the project.
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