Phoenix Group makes a strategic investment in Lyvely as it enters the Web3 space.

Lyvely, a homegrown brand based in the UAE, has secured an investment from Phoenix Group, a global leader in blockchain technology. This strategic investment marks a substantial foray into the Web3 domain for Lyvely.

Lyvely operates as a platform poised to revolutionize the dynamics between online creators and consumers, transforming methods of monetization and interaction. With its own digital currency set to launch in Q1 2024, Lyvely transcends traditional e-commerce, fostering direct-to-consumer relationships through a fusion of Web2 and Web3 features.

This approach empowers creators by facilitating seamless monetization while providing consumers with exclusive access and personalized experiences.

Bijan Alizadehfard, Co-Founder and Group CEO of Phoenix Group, emphasized the strategic significance of the investment, stating that it aligns with Phoenix's vision to support UAE-based technology, startups, and innovative endeavors. He highlighted that the investment in Lyvely represents not just a stake in a company but an investment in the future of the digital and creator economy, acknowledging its vast potential for exponential growth.

Farah Zafar, CEO of Lyvely and MD/CLO of Phoenix Group, expressed that the investment is not merely financial but a strategic alliance aimed at redefining the connection between creators and consumers. She emphasized Lyvely's distinctive combination of social e-commerce and content monetization, driven by Web3 capabilities, which has the potential to disrupt conventional norms and empower both creators and users.

Dave Catudal, Co-founder of Lyvely, underscored the alignment of Phoenix's expertise in the cryptocurrency sector with Lyvely's mission. He stated that Phoenix's investment and support validate Lyvely's vision and will significantly enhance its technological capabilities and growth trajectory in the Web3 space.