FirstMate Raises $3.75 Million for NFT Storefront Builder
NFT startup FirstMate has secured $3.75 million in funding from investors such as Dragonfly Capital, Coinbase Ventures, and NextView. The funding will be used to launch and develop a new “creator-owned NFT storefront builder.” The platform aims to address the need for a trusted space for creators to transact and to provide a customized marketplace that reflects the quality of their artwork. FirstMate believes that existing NFT platforms prioritize their own interests over those of creators, and seeks to reduce friction and align incentives for artists and marketplaces. The company was founded in 2022 by individuals with experience from Instagram and Walmart, and already supports over 1,000 NFT collections.
Key Points:
- FirstMate secures $3.75 million in funding to develop a new NFT storefront builder platform.
- Investors include Dragonfly Capital, Coinbase Ventures, and NextView.
- The platform aims to provide a trusted space for creators to transact and customize their marketplace.
- FirstMate believes existing NFT platforms prioritize their own interests over those of creators.
- The company already supports over 1,000 different NFT collections.
Hot Take:
FirstMate’s new NFT storefront builder has the potential to revolutionize the NFT space by putting the interests of creators first. By allowing artists to enforce royalty payments and customize their marketplace, FirstMate empowers creators to have more control over their work and earnings. This aligns incentives and reduces friction between artists and marketplaces, creating a more fair and transparent ecosystem. With the support of major investors and experienced founders, FirstMate is well-positioned to become a leading platform in the NFT industry.
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