Decentralized data management firm Inery receives funding from Metavest

Dr. Naveen Singh, Chief Executive Officer and co-founder at Inery

Inery, a decentralized data management system, has secured an investment from web3-focused blockchain VC firm Metavest in the first week of September at the valuation of $128m. Inery is a decentralized data management system bringing DB to Web3. It provides low-cost, reduced latency, secure, and tamper-resistant way for data management.

What is the market offering of Inery?

The data management system aims to ensure users, like gamers and businesses, retain control of their data in the metaverse via owner-controlled data assets. Based in Singapore, Inery has offices in Switzerland, Dubai, and Serbia – a multicultural company, relying in full on the strength of its in-house teams. Inery has attracted the attention of the industry due to its solutions for one of the main issues of Web3 – database decentralization and security.

Inery’s use cases can be applied to diverse sectors, including governments, enterprises, aviation, GameFi, healthcare, and metaverse. It provides a potential cross-chain solution for users to interact with their data assets in the entire metaverse domain using its DB solution.

The project rolled out its first public testnet on August 10, 2022, preceding its upcoming launch and scheduled for listing at the end of the third quarter of 2022. Through this funding, Inery aims to expand its use cases—particularly in GameFi, where the firm seeks to explore the full potential of the booming gaming industry with verified digital ownership of assets.

What does the investment mean for Inery?

Inery aims to build a space for its users to seamlessly create and share NFTs. Metavest has previously invested in and made strategic partnerships with successful blockchain projects. Their investment portfolio includes Concordium, CasperLabs, Coinlist, Gala Games, Bored Ape Yacht Club, Splinterlands, Star Atlas, Duelist King, Nakamoto Games, Ember Sword, etc.

“Inery is very selective when it comes to new partnerships. We aim to become a pillar of Web3, which is why when Metavest showed interest in our project, we were happy to partner with a Metaverse and NFT-focused platform. We believe that Inery and Metavest can extensively help each other reach both companies’ goals,” said Inery Chief Executive Officer and co-founder Dr. Naveen Singh. Inery will list its token in Q3 of this year (2022).

Visit the company’s website and follow its official social media accounts to learn more.