UAE homegrown brand, Lyvely has received investment from Phoenix Group, a global blockchain powerhouse. The strategic investment is a significant move into the Web3 landscape for the company.
Lyvely is a platform that is set to transform online creator-consumer dynamics, changing the way of monetisation and interaction.
Lyvely, propelled by its own digital currency launching in Q1 2024, goes beyond traditional e-commerce, establishing direct-to-consumer relationships through a blend of Web2 and Web3 features.
This empowers creators with seamless monetisation while offering consumers exclusive access and personalised experiences.
Bijan Alizadehfard, Co-Founder and Group CEO of Phoenix Group, stated: “Phoenix Group’s strategic investment in Lyvely, illustrates and supports Phoenix’s Vision to support UAE homegrown tech, startups and the future of innovation. With Lyvely, we are not just acquiring a stake in a company, we’re investing in the future of the digital and creator economy which has huge potential and is on an exponential growth trajectory.”
“We are proud to invest in Lyvely, a UAE homegrown platform, which represents a revolutionary blend of Web 2 and Web 3 capabilities, poised to redefine how creators and consumers interact in the digital space. This acquisition marks a significant milestone in our journey, showcasing our dedication to fostering groundbreaking tech startups, backing visionary founders and diversifying our portfolio. More than just a platform, Lyvely’s vision of empowering creators and users alike, perfectly aligns with Phoenix Group’s commitment to leading the tech industry with trailblazing initiatives,” he added.
Farah Zafar, CEO of Lyvely and MD and CLO of Phoenix Group, said: “This isn’t just an investment – it’s a strategic alliance to redefine how creators and consumers connect.”
“Lyvely’s unique blend of social e-commerce and content monetisation, powered by Web3 capabilities, has the potential to disrupt the status quo and empower both creators and users alike. Together, we aim to push the boundaries of digital experiences and lead the way in this rapidly evolving landscape,” she added.
“Phoenix’s expertise in the cryptocurrency sector complements our mission at Lyvely. Their investment and support validate our vision and will significantly enhance our technological capabilities and growth trajectory in the Web3 space,” said Dave Catudal, Co-founder of Lyvely.
This strategic partnership signifies a major collaboration between a Web3 leader and a pioneering consumer tech platform.
