Makersplace, NFT platform, raised $30 million in a Series A funding round on Wednesday. The NFT marketplace’s creators said they want to use the funding to “acquire additional talent and scale the business.” While Pantera Capital and Bessemer Venture Partners co-led the Series A, Eminem, the world-famous hip hop artist, also invested in Makersplace.
Makersplace Raises $30 Million to Expand the NFT Industry
Makersplace, the business behind the NFT platform, has announced that it has raised $30 million from some investors. Sony Music Entertainment, Coinbase Ventures, 9Yards Capital, Uncork Capital, and Draper Dragon Digital Assets all participated in the financing round, which was headed by Bessemer Venture Partners and Pantera Capital.
In addition, Makersplace revealed that famous angel investors such as Paul Rosenberg and 3LAU in music, Eminem, Acquavella Galleries, Sabrina Hahn, and Bill Ruprecht in the arts, as well as Julia and Kevin Hartz, participated in the funding round.
Ryoma Ito, an e-commerce expert, and two Pinterest coworkers, Dannie Chu and Yash Nelapati, created the Makersplace market in 2018. Makersplace co-founder and CEO Dannie Chu described the company’s activity as “an investment in the future of creativity.” Chu co-founded the NFT marketplace three years ago, which has seen over $100 million in sales and a tenfold rise in unique collectors in the last year.
In a statement, Chu said, “Makersplace played a crucial role in initiating a global discourse about NFTs and the future of the creator economy this spring.” “With this Series A, we will continue to offer this new medium for creative and collecting to a broader audience by linking the best digital artists with the most dedicated collectors.”
This year, a large number of NFT marketplaces are raising funds, including Makersplace, which hosts the world-famous Beeple NFT Sale
Because there are so many NFT markets these days, Makersplace will face a lot of competition. During seed rounds held in 2021, a large number of the biggest NFT platform raised millions of dollars in funding. For example, on July 1, the NFT marketplace Mintable, which is backed by billionaire Mark Cuban, raised $13 million in a Series A. Opensea revealed at the end of July that it had received a stunning $100 million in a Series B investment. Raible, an NFT marketplace, has raised more than $14 million in funding and announced intentions to deploy on the Flow blockchain.
The startup will also compete with Crypto.com and FTX, two large exchanges. While Crypto.com launched its NFT market with the support of celebrities like Snoop Dogg, FTX just announced a partnership with Dolphin Entertainment, a film, media, marketing, and television studio.
Makersplace acknowledged particular NFT artists in a recent statement, saying that artists including Beeple, Bosslogic, Trevor Jones, Pak, DeadMau5, Urs Fischer, Patrick Mahomes, 3LAU, Jose Delbo, and Lushsux contributed to the company’s sales results.
One of the largest NFT sales ever has a place, according to the $30 million Series A financing round announcement. When Beeple’s “Everdays: The First 5000 Days” NFT collectible sold for $69 million, Makersplace was well-known for collaborating with Christie’s.
“We firmly believe that NFTs will power the next generation of digital art, collectibles, media, experiences, and much more,” said Paul Veradittakit, a partner at Pantera Capital while speaking about the Makersplace Series A capital raise.