Redeem

What Redeem does

Redeem is a privately held Web3 startup founded in 2022 and headquartered in Kansas City, United States, operating with a team of 11-50 employees. The company is building a protocol for NFT communication transmission that enables users to send and receive non-fungible tokens using phone numbers and QR codes, abstracting away the technical complexity of blockchain wallet addresses. Its stated value proposition is to lower technical barriers and security risks for both end users and businesses, with the goal of expanding mainstream NFT adoption.

The core product, branded the Redeem Protocol, is a phone-number-keyed NFT transfer layer planned for Q2 2023 launch. The technology differentiates on ease-of-use implementation rather than on-chain innovation, leveraging familiar mobile identifiers and QR code scanning to replace wallet-address workflows. The company's go-to-market is described as product-led growth, targeting a horizontal segment of mainstream users and businesses that want to participate in the NFT ecosystem without specialized blockchain knowledge.

Redeem's business model is a transaction-fee revenue stream on NFT transfers facilitated through the protocol, though specific pricing, fee structure, and monetization terms are not publicly disclosed. The company completed a $2.5 million Pre-Seed round in March 2023 led by Kenetic Capital, with a broader crypto and regional investor syndicate; the proceeds are earmarked for core feature development and strategic partnerships. As of the disclosed data, the company is operating, pre-revenue, with no named customers, no public app distribution, and no disclosed follow-on capital.

Name

Redeem

Website

https://heylink.me

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Redeem is a Kansas City-based Web3 startup building a protocol that lets users send and receive NFTs via phone numbers and QR codes, targeting mainstream users and businesses seeking simplified, lower-risk NFT transfers.

Ownership category

akta.pro rank

Product category

Web3 NFT Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

NFT Commerce, Ticketing & Utility Enablement (token-gated access, memberships, passes, ticketing rails) (FSAPAFAJ)

akta.pro secondary industry

NFT Custody, Wallets & Asset Management (collectibles wallets, vaults, portfolio tools) (FSAPAFAF)

Keywords

• NFT transaction protocol
• Web3 infrastructure
• Digital asset transfer
• Blockchain wallet abstraction
• NFT communication platform

Headquarters

HQ city

Kansas City

HQ country

United States

HQ region

North America

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations

Revenue model

1. NFT Transaction Services: Revenue generated from facilitating NFT transactions, though specific monetization model details are not disclosed in available sources.

Go-to-market motion1 record

Core offering

Redeem is a Web3 protocol for NFT communication transmission that enables users to send and receive non-fungible tokens using phone numbers and QR codes. The platform eliminates the need for complex blockchain wallet addresses, reducing technical barriers and security risks to drive mainstream NFT adoption. A product launch was planned for Q2 2023.

Product overview

Redeem is a Web3 startup that has developed a protocol for NFT communication transmission. The company offers a platform that simplifies NFT transactions by enabling users to send and receive NFTs via phone numbers and QR codes. The product is designed to reduce technical barriers and security risks associated with NFT transactions, making them more accessible to mainstream users and businesses.

Differentiator

Problem solved

Functional benefit

Products and services

• Redeem Protocol A Web3 protocol for NFT communication transmission that enables users to send and receive non-fungible tokens using phone numbers and QR codes, eliminating the need for complex blockchain wallet addresses and reducing technical and security barriers for mainstream users and businesses.

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators3 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• Venly: Web3 wallet and NFT infrastructure provider offering simplified onboarding, wallet-as-a-service, and NFT minting/distribution tools for mainstream users and enterprises — directly comparable to Redeem's NFT transmission-and-onboarding wedge.
• Crossmint: NFT infrastructure API platform focused on making NFT minting, distribution, and wallet flows accessible to non-crypto developers and enterprises — overlaps with Redeem's ease-of-use, mainstream-onboarding positioning.
• NFTPort: NFT infrastructure provider offering APIs and tooling for minting, transferring, and managing NFTs across chains — a direct adjacent infrastructure competitor to Redeem's transmission protocol.
• Sequence (Horizon Blockchain Games): Web3 infrastructure stack including wallets, indexer, and NFT tools aimed at game studios and mainstream developers — comparable as a developer-facing NFT/onboarding infrastructure peer.

Broad incumbents

• Thirdweb: Well-funded Web3 development platform offering NFT minting, contracts, and wallet tooling — broader portfolio but directly addresses the same mainstream-developer NFT infrastructure category as Redeem.
• Alchemy: Leading Web3 developer platform providing node, indexer, and NFT APIs — operates at a broader infrastructure layer but competes for the same developer-driven NFT ecosystem and transaction routing.
• Magic Eden: Major cross-chain NFT marketplace that has progressively layered in simplified onboarding and wallet UX — represents the application-layer competitor that could integrate comparable phone-number-style abstractions.
• OpenSea: Largest general NFT marketplace, now investing heavily in simplified onboarding and gasless flows — represents the dominant incumbent whose UX improvements most directly threaten Redeem's mainstream wedge.
• Phantom: Leading self-custodial crypto/NFT wallet known for streamlined UX and social login features — comparable in targeting mainstream users and could ship phone-number-based addressing features.
• Coinbase Wallet: Mainstream consumer crypto wallet from Coinbase, offering simplified NFT receiving and identity features (CB ID) — strong incumbent comparator for Redeem's phone-number-based NFT transmission thesis.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/redeemtechnologies

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Redeem