FirstMate: A Startup That Empowers NFT Creators With Customizable Online Shops Raised $3.75M

Dhruv Lakshya 28-08-2023 03:49:35

FirstMate: A Startup That Empowers NFT Creators With Customizable Online Shops

FirstMate, a startup that helps NFT creators build their own online shops, secured $3.75 million in a funding round led by Dragonfly Capital, a crypto-focused VC firm that raised $650 million for its third fund in 2022. The round, which was announced today, also saw the participation of Coinbase Ventures and NextView.

Along with the funding news, FirstMate revealed the beta launch of its website builder for NFT marketplaces, in collaboration with Manifold, another NFT startup. Jacob Frantz, the CEO of FirstMate, stated that "current marketplaces do not serve the needs and desires of creators and collectors, who want a direct and lasting connection. We aim to change that."

Unlike other marketplaces, FirstMate puts creators first, as per the announcement. This means artists can showcase all their works on one site, no matter where they were created, and have full control over their royalties. FirstMate, founded in 2022 by ex-Instagram and Walmart employees, has already launched marketplaces for Bankless, Gmoney’s 9dcc, FELT Zine, Sound.xyz and more. Its marketplaces host over a thousand collections of various types of art and clothing.

The startup believes that NFTs are more than just digital assets, but also expressions of identity and culture. By partnering with Manifold, FirstMate leverages the power of smart contracts to ensure that creators have full ownership and control over their NFTs, and that collectors can trust the authenticity and provenance of their purchases.

Up to $6,045 Bonuses

Sponsored

Join Bybit and receive up to $6,045 in Bonuses! Register Now!

Disclaimer: Information found on CoinCarp is those of writers quoted. It does not represent the opinions of CoinCarp on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Dhruv Lakshya

Dhruv Lakshya is an investor and writer who is passionate about digital assets and the future of finance. He has a background in engineering and business, and he has been investing in crypto since 2017. He has written for various platforms, sharing his insights and analysis on the crypto market, trends, and opportunities. He is also an active member of the Indian crypto community, participating in events, meetups, and online forums. He believes that crypto can empower people and create positive social impact. He likes to play chess, read books, and meditate.