Phoenix Group Invests in Lyvely, Paving the Way for Web3 Transformation
In a significant move into the Web3 landscape, Lyvely, a UAE homegrown brand, has secured a strategic investment from Phoenix Group, a global blockchain powerhouse. The infusion of capital comes as Lyvely prepares to launch its digital currency in Q1 2024, marking a transformative step beyond traditional e-commerce.
Lyvely’s Innovative Approach to Digital Commerce
Lyvely distinguishes itself by adopting a unique approach that goes beyond conventional e-commerce models. The company aims to forge direct-to-consumer relationships by integrating a blend of Web2 and Web3 features. This strategic approach empowers content creators by providing seamless monetization opportunities while simultaneously offering consumers exclusive access and personalized experiences.
Phoenix Group’s Vision for the Future
Bijan Alizadehfard, Co-Founder and Group CEO of Phoenix Group, emphasized the strategic nature of the investment in Lyvely. He highlighted the broader vision of Phoenix Group, which revolves around supporting UAE homegrown tech, startups, and fostering future innovations. Alizadehfard stated that the investment is not merely a stake acquisition but a commitment to fuel the growth of the digital and creator economy, acknowledging its substantial potential and exponential growth trajectory.
Lyvely’s Role in Redefining Digital Interaction
Farah Zafar, CEO of Lyvely and MD and CLO of Phoenix Group, expressed the significance of the investment, labeling it as a strategic alliance to redefine the connection between creators and consumers in the digital space. Zafar emphasized Lyvely’s distinctive blend of social e-commerce and content monetization, fueled by Web3 capabilities, with the potential to disrupt established norms and empower both creators and users.
Alignment of Visions
Dave Catudal, Co-founder of Lyvely, highlighted the alignment of visions between Lyvely and Phoenix Group. He noted that Phoenix’s expertise in the cryptocurrency sector complements Lyvely’s mission, and the investment and support from Phoenix Group validate Lyvely’s vision. Catudal sees this collaboration as an opportunity to enhance technological capabilities and accelerate growth in the Web3 space.
A Major Web3 Collaboration Unfolds
The strategic partnership between Phoenix Group and Lyvely signifies a groundbreaking collaboration between a leader in the Web3 domain and an innovative consumer tech platform. As both entities join forces, the aim is to push the boundaries of digital experiences and set the pace in an ever-evolving digital landscape. The infusion of resources and expertise from Phoenix Group is poised to catalyze Lyvely’s journey in redefining the dynamics of digital commerce and creator-consumer interactions.