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Web3 Startup IYK Raised $16.8M in Recent Funding Round Led by A16z
IYK, a Web3 startup whose clientele includes Adidas, Billionaire Boys Club, and Atlantic Records, has successfully raised over $16.8 million in a seed round. Founder Ryan Ouyang announced this milestone on his official X (formerly Twitter) account, emphasizing that a16z Crypto, also known as Andreessen Horowitz, led the investment round.
Along with a16z, other VC firms contributing to the funding include Lattice Capital, Collab Currency, money, and 1kx. IYK, a Web3 startup abbreviated as “If You Know,” introduces a novel approach to verify the authenticity of fashion and other merchandise, musicians, artists, and creators thereby enhancing consumer interactions.
The core concept of IYK revolves around the integration of NFC (near-field communication) chips into merchandise and apparel. This technology enables consumers to easily authenticate items, such as T-shirts, by simply tapping their smartphones on
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