Squirrel Technologies Ltd, a development company building the next generation of DeFi and NFT products to onboard more retail users to blockchain technology, has received investment and public backing from Jordan Belfort - The Wolf of Wall Street.
The technology company, whose tentpole product is its “Smart Wallet” for user onboarding to digital assets, originally started development 2 years ago by writing and building a proof of concept product. This week, they have launched their first product “Squirrelly Squirrels”; an NFT collection that gives holders utility in benefits in all of the technology the company is building, including a wallet, cryptocurrency, an NFT marketplace, and Metaverse integrations.
Belfort himself announced on Twitter that:
“It’s very rare for me to publicly endorse a project, but there’s a lot of smart money going into this one! I love the dev[elopment] team as well as the long-term vision. They’re making it easy to own crypto and NFTs”
Squirrel Technologies’ development prowess was on clear display during the minting of their NFTs. In partnership with Chainlink, the team has pioneered a provably fair minting process for their NFTs - a significant technical challenge, as provable randomness is an extremely difficult problem to solve in blockchain. This process is documented on their website in detail. In addition, the team managed to reduce minting fees on the Ethereum blockchain by over 70% compared to other NFT launches, making Squirrelly Squirrels more accessible to new owners.
The NFTs, which are currently on sale to the public, give the holders early access to opportunities in the Squirrel ecosystem. The company advertises that their future token, NUTS, will be distributed fairly to NFT holders and is used for governance, yield, and to save on any fees within the squirrel ecosystem.
“Having Jordan join us as an investor is a major win for us as a company.” said Squirrel Technologies Head of Corporate Development Igor Denisov.
“We’re pioneering a non-custodial, gas-free wallet that will cater to the next wave of new cryptocurrency users. Our research on user experience suggests that high gas costs and private key security are the two most intimidating factors for new users, and that is exactly what Squirrel Wallet features will address first. Jordan’s mass appeal and audience will help us rapidly grow our user base, and his relationships are exactly what we look for when bringing on strategic investment.”
According to the Squirrel Technologies team, their current seed investment round has had oversubscribed interest, but they have been saving allocation for strategic investors who can add value to the company’s growth beyond just providing capital. These qualities include deep relationships with cryptocurrency exchanges, regulators, and the global investment community.
Squirrel Technologies NFTs can be purchased on their official sales website as of today.
The Wolf of Wall Street is the proud owner of a Squirrelly Squirrel and has been known to be very active in the NFT community - purchasing Crypto Punk #6033 for 102.49 Ethereum in October 2021. The Squirrelly Squirrel NFT looks to be Belfort’s next purchase.
About Squirrel Technologies (Squirrel)
Squirrel is a blockchain ecosystem building the next generation of DeFi and NFT technologies for an emerging market of retail users. Tentpole products include Squirrel Wallet, Squirrel Finance (an exchange), Squirrelly Squirrels, and Squirrel NFT.