SerMorpheus Raises 37 Billion Rupiah Funding, Bridges Local Brands Into the Web3 Ecosystem

SerMorpheus, platforms Web3 enablers local government, announced a seed funding of $2,5 million or more than 37 billion Rupiah. The round was led by Intudo Ventures, followed by 500 Global, Febe Ventures, AlphaLab Capital, BRI Ventures, and Caballeros Capital.

With this funding round, SerMorpheus will focus on developing technology infrastructure to bridge the gap between web3 and the needs of Indonesian brands/consumers; and recruit top talent across all functions.

Launched in January 2022, SerMorpheus is a platform focused on bridging brand and retailers to the new digital economy. Companies develop NFTs and maintain utilities that allow them to connect directly with users and communities. And create value through personalized shopping experiences.

Through mechanisms online-to-offline provided, NFT holders can enjoy real benefits through events held by brand and retailers. Users can claim certain branded NFTs to participate in various activities offline, such as concerts, film screenings and other events.

Currently the company is building infrastructure for brand and content creators who connect web3 products and services with web2 users, eliminating technical barriers and reducing friction.

SerMorpheus Co-Founder Kenneth Tali expressed, “We envision web3 will be a part of our daily lives in the future and NFTs have huge potential to reach a larger audience than crypto has.”

He also added that Web3 has gained significant traction in Indonesia. "We are very enthusiastic about bringing NFTs to the Indonesian mass market as pintu gateway to the greater web3 world.” he stressed.

“Web3 embodies the latest iteration of the promise of the internet—a world where users can be creators and owners simultaneously. However, among the world's five billion internet users, only around 400 million are crypto users, with projections that billions more will online in the next few years. "Because SerMorpheus serves Indonesia, what they build is also the key to a truly inclusive internet, outside Indonesia," said Global 500 Managing Partner Khailee Ng.

About SerMorpheus

SerMorpheus was founded by Kenneth Tali and Budi Sukmana. Both of them have been quite active in the industry blockchain and crypto assets since 2016; and was involved as a founding member and official of the Indonesian Blockchain Network. Previously, Kenneth had also founded a platform through crowdfundingLiquid, which has rebranding be equal. Currently he occupies the position of commissioner in the company.

The team realized that there was quite a large demand from brand and creator for NFTs and other digital assets, to engage directly with their users and fan base. In addition, there is a need for local partners who not only understand the technical aspects of Web3, but also have a deep understanding of the preferences and habits of Indonesian consumers.

One of the value propositions SerMorpheus offers is eliminating friction by connecting creators directly with the global NFT market on their own behalf, as well as allowing transactions to be carried out in Rupiah (IDR) with just an email address and telephone number. This is done to simplify the process of entering the new digital economy.

The company is building strong demand by brand to engage with Indonesian audiences, SerMorpheus will accelerate efforts to onboard more brands into the new digital economy, including NFTs accompanying movie ticket purchases, event attendance and activation campaigns online-to-offline other.

SerMorpheus debuted with the ticket sales project Jazz Goes to Campus (JGTC) in collaboration with tokocrypto. With NFT-based tickets, users can enjoy a comprehensive experience from before, during, to after the event ends. The tickets can also be traded transparently on the secondary market, allowing promoters to retain royalties.

In addition, several clients have trusted SerMorpheus to develop and distribute customized NFTs such as Indonesia Comic Con, professional football club PERSITA Tangerang, Jogjarockarta music festival, Indonesian actress and singer Prilly Latuconsina, as well as the film produced by Visinema Pictures Mencuri Raden Saleh.

Future plan

Currently, the company is developing a platform for creators, including self-service NFT creation, which allows users to quickly mint and issue NFTs without requiring technical knowledge. SerMorpheus also plans to provide analytics features to help content creators track their collections and user base.

When asked about the curation process, Kenneth explained in a separate interview with DailySocial.id that there are no specific criteria for creators or IPs who want to launch their NFTs. However, his team screened qualitatively and was very selective. "You have to be really serious and have it value," he stressed.

Olivier Raussin, Co-founder & Managing Partner of Febe Ventures said, “Technology blockchain creating new ways for creators and brand to interact directly with their fans and consumers, including real-world cases such as rewarding customer loyalty. SerMorpheus is the technical partner of choice for Indonesian businesses looking to drive engagement in the new digital economy.”

In the midst of the growing popularity of NFTs in Indonesia, there are several platforms that offer similar services. One of them is Bolafy which focuses on offering official digital collections from its collaboration with businesses in the local football field. Apart from that, there are also NFT marketplace platforms such as collective,Artpedia and Tokomall owned by Tokocrypto.