Halliday Acquires $6M in Seed Funding, Led by a16z, for "Buy Now Pay Later" NFTs
Halliday has completed a $6 million seed round, led by Andreessen Horowitz, to accelerate the creation of its "Buy Now Pay Later" NFTs product.
The Web3 startup's main goal is to make it easier for new users to get involved in blockchain gaming by providing a 'Buy Now Pay Later' support system.
The company hopes to change the way gamers acquire digital assets in the metaverse via leveraging the popular 'neobanking' (next-generation banking system) mechanism.
Griffin Dunaif, Halliday Co-founder, said, “So we built our demo, a pitch deck, and we pitched it to Andreessen, and they liked what they saw.”
According to Dunaif, work on the project began in November of last year, right when the metaverse idea became a real business opportunity after Facebook changed its name in October.
South Korean venture capital firm Hashed, as well as A.Capital and SV Angel, among others, participated in the $6 million fundraising.
Halliday is not the only platform attempting to use the popular lending system in the fintech sector for use in NFTs.
Teller, a DeFi Lending platform, launched a Buy Now Pay Later feature in July for selected high-profile NFT projects. The ApeNowPayLater project will launch with ten high-profile NFTs, including "Mutant Ape Yacht Club, Moonbirds, Doodles, Cool Cats, Azuki, Meebits, Adidas Originals: Into the Metaverse, RTFKT-MNLTH, and Murakami." “Flowers Grow.”
Halliday appears to be interested in using NFTs as part of a blockchain game or metaverse project.
The company wrote in a blog announcing the new product.
"Halliday integrates directly with games and marketplaces as an alternative payment option at checkout, offering players a seamless way to secure ownership and pay for their NFT over time,"
One of the most difficult aspects of entering a blockchain gaming ecosystem is that most play-to-earn games require users to obtain a specific NFT or game token before they can begin playing.
This means that if you missed the initial token offering's NFT drop, you could end up spending a lot to gain access.
Halliday is attempting to fill this void by providing gamers with the option of gaining immediate access after agreeing to a payment plan.