Paul Veradittakit | Coinbase for NFTs
13 Aug, 2021 01:06
source: Paul Veradittakit
Singularity Financial Hong Kong June 17, 2021 – Coinbase for NFTs (Source: VeradiVerdict – #158)
About this author: Paul Veradittakit is a Partner at Pantera Capital, one of the oldest and largest institutional investors focused on investing in blockchain companies and cryptocurrencies. The firm invests in equity, early stage token projects, and liquid cryptocurrencies on exchanges.
MakersPlace is the premier NFT marketplace for digital art and has achieved tremendous growth in the last year, including over $100M in sales and a 10x increase in unique collectors. Recently, the company announced that it raised a $30m Series A, co-led by Pantera Capital and Besssemer Venture Partners, with participation from Uncork Capital, Draper Dragon Digital Assets, 9Yards Capital, Coinbase Ventures, and Sony Music Entertainment. Other angels include Eminem, 3LAU, and Larry Fitzgerald Jr.
If you’re still uncertain about what is an NFT and why the concept is compelling, read my previous article on NFTs here.
The NFT sector is continuing to surge with a very strong month of July for monthly sales.
MakersPlace even set a record for an NFT transaction with Beeple’s Everydays: The First 5000 Days. It sold for $69.3 million at Christie’s auction house, ranking as one of the highest prices ever paid for a work (in any medium) by a living artist. A replica of the piece is below:
Who’s behind the project?
MakersPlace was founded by former Pinterest coworkers Dannie Chu and Yash Nelapati and eCommerce veteran Ryoma Ito.
I firmly believe that NFTs will power the next generation of digital art, collectibles, media, experiences, and much more. MakersPlace has formed a top-notch team that has designed a user experience that seamlessly introduces creators and collectors to this new paradigm. By all indications, it is working. The future is bright for creators and the industry in general, and we’re thrilled to be early partners with MakersPlace.
(This post is republished with permission from author. )