Lyvely, a UAE-based brand, makes a significant foray into Web3 with a strategic investment from global blockchain powerhouse Phoenix Group. This substantial capital infusion coincides with Lyvely's imminent launch of its digital currency in the first quarter of 2024, marking a transformative shift from conventional e-commerce.
Setting itself apart, Lyvely adopts an innovative digital commerce approach that transcends traditional models. By merging Web2 and Web3 features, the brand seeks direct consumer relationships. This strategy empowers content creators with seamless monetization avenues while offering consumers exclusive access and personalized experiences.
Bijan Alizadehfard, Co-Founder and Group CEO of Phoenix Group, underscores the strategic essence of investing in Lyvely. He emphasizes Phoenix Group's broader vision of nurturing UAE homegrown tech and startups, positioning this investment as a pivotal move to fuel the growth of the digital and creator economy.
CEO of Lyvely and MD/CLO of Phoenix Group, Farah Zafar, views the investment as a transformative alliance to reshape the digital interaction paradigm between creators and consumers. Zafar emphasizes Lyvely's fusion of social e-commerce and content monetization using Web3 capabilities, aiming to disrupt norms and empower both creators and users.
Dave Catudal, Co-founder of Lyvely, highlights the shared vision between Lyvely and Phoenix Group. He sees Phoenix's expertise in cryptocurrency as complementing Lyvely's mission, validating the brand's vision and recognizing the collaboration's potential to bolster technological prowess and expedite growth in the Web3 arena.
The strategic partnership between Phoenix Group and Lyvely signifies a pioneering collaboration, merging Web3 leadership with an innovative consumer tech platform. This union aims to redefine digital experiences, leveraging resources and expertise to pioneer change in the evolving digital landscape, reshaping digital commerce, and enhancing creator-consumer connections.