Slide, a startup providing user experience infrastructure (dapps) for decentralized applications (dapps), raised $12.3 million in seed funding. The round was led by Framework Ventures and Polychain Capital, both crypto-focused investors. Slide will continue to build its infrastructure, hire more people and distribute its product to other dapps with the funding.
The round was led by Framework Ventures and Polychain Capital.
When a new user wants to interact with Web3 applications, they often need to locate third-party sources to buy crypto and hold the assets. Slide is an all-in-one app that allows users to stay within the app. It includes non-fungible token ( NFT) purchase via credit card, and a non custodial wallet which’s set up using an email address instead of a browser extension.
In an interview, Slide CEO and cofounder Teymour Farman Farmaian stated that Web3 is available to all users, no matter their experience or background. It’s difficult for average users to use dapps right now, and it’s difficult for incremental dapps to gain any type of exposure to regular users. Both sides have difficulty reaching each other.”
Slide, a New York-based company, was founded by Farman-Farmaian (a former product leader at crypto exchange Coinbase) and Sam Hatem (another blockchain developer at event-betting site Polymarket). Slide was launched in stealth mode with the funding round. It was launched closed to a few partners. Farman-Farmaian stated that the company plans to launch fully openly by the end of this year.
In the financing round, Outlander Ventures, a venture capital arm of Coinbase and USDC issuer Circle also participated. The investors included Balaji Srinivasan (ex-Coinbase Chief Technology Officer), Ani Pai, Dragonfly Capital partner and Shayne Coplan, Polymarket CEO.
Framework Ventures, the lead investor, started a $400,000,000 fund in April. This fund was used to support Web3 gaming and decentralized financing.
“Under the right conditions, we think billions could come on-chain in the next decade and we think UX infrastructure projects like Slide (user experience) will play a key part in that migration,” Rajiv Patel O’Connor, Framework Ventures investor, told CoinDesk via email.