Web3 Shopping Platform Rye Raises $14M Led by a16z Crypto

Web3 shopping platform Rye announced that it has raised $14m led by a16z Crypto, with participation from Goat Capital, Solana Ventures, Electric Ant and others. Rye is launched by Justin Kan, co-founder of Twitch, and aims to build an e-commerce platform backed by crypto tokens. Rye will offer a one-click API for merchants to display their products on Rye's own marketplace. Rye will offer that directory in turn to developers, to embed within their own sites and apps. In addition, Rye will offer a crypto token also called Rye.