HONG KONG SAR - Media OutReach - 23 May 2023 - Newman Capital is proud to announce its investment in Openfort, a cutting-edge blockchain wallet infrastructure startup focused on Web3 gaming. With the investment from Newman, Openfort has completed its $3 million seed round fundraising, which was co-led by gumi Cryptos Capital and Maven 11. Game7 and NGC Ventures also participated in this round.

Driving Web3 adoption among consumers has been one of the key missions of Newman Capital. Having high-efficiency Web3 infrastructures, middleware, and tooling is the prerequisite for developing high-quality, user-friendly Web3 applications that provide a frictionless experience for not only Web3 native but for all.

Openfort's programmable wallet-as-a-service is set to be a game-changer in the realm of Web3 gaming. With its innovative use of account abstraction technology, it has the potential to make Web3 gaming accessible to everyone, ushering in a new era of immersive gaming experiences.

Adrian Lai, Founder and Managing Partner at Newman Capital, added, "Web3 gaming poses a unique set of technological challenges, which often create drawbacks on user journey and experience. To truly bring web3 gaming to the masses, advanced toolings are much needed to overcome those challenges so that game developers can create web3 games that will provide a seamless and user-friendly experience with improved security. We are glad to support the Openfort team in delivering their account abstraction-enabled gaming wallet."

For more information about account abstraction and how it will change Web3 gaming, please visit Newman Research.

Hashtag: #NewmanCapital #Web3 #VentureCapital #Investment #Blockchain

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About Newman Capital

Newman Capital is a proprietary venture capital firm headquartered in Hong Kong with a footprint throughout Asia and the US. Our vast knowledge and network allow us to interconnect with diverse communities. East and West, Web2 and Web3, developed and emerging markets, and more. We seek extraordinary founders and technology at the forefront of Web3 and connect them with top-tier resources, unlocking new opportunities and access, enabling them to scale with true impact. We focus on investing in early-stage consumer-facing applications and related infrastructure within the entertainment, social, and gaming sectors.

Learn more about Newman Capital at www.newmancapital.com

About Openfort

Openfort is a wallet-as-a-service solution that allows game developers to easily integrate blockchain accounts into their games. The platform leverages account abstraction to offer seamless transactions, batch transactions, and multi-chain transactions, as well as player management and authentication. The platform eliminates gas fees, wallet popups, and prompts during gameplay, and supports ERC20 tokens. Openfort is the best solution for games and gamified experiences that doesn't compromise on user experience.

Learn more about Openfort at www.openfort.xyz