Eminem and Sony Music were among the investors participating in the latest funding round of the NFT Market, MakersPlace, raising $30 million in total.
Ride on the NFT train
Cat Stevens sang “Oh, peace train soundin’ louder. Glide on the peace train”. While I’m not sure about the peace train, people are certainly gliding on the NFT train. Among the latest to hop on were Eminem, Sony Music Entertainment, and Producer Paul Rosenberg.
The online NFT marketplace behind the legendary $69.3 million auction, MakersPlace, successfully completed their latest funding round led by Pantera Capital and Bessemer Venture Partners. Announced on August 3, the Series A round saw investments worth $30 million. Coinbase Ventures and Uncork Capital were also among the participants.
We are very proud to share news of our recent Series A raise of $30M, which we will use to advance our mission of enabling a vibrant future for digital creativity!
— MakersPlace (@makersplaceco) August 4, 2021
MakersPlace moving forward
Since its inception in 2018, MakersPlace has considerably grown its business. According to a post by its CEO Dannie Chu, the platform has shown a user growth of more than 10x in 2021; facilitating more than $100 million transactions. And guess what – like the many other in the digital assets space, MakersPlace is hiring…
“We’ve also continued to empower thousands of the world’s most talented digital artists, offering the most trusted platform to protect and sell their digital art.”
The digital art marketplace, MakersPlace, is perhaps most notably associated with facilitating the auction of Beeple’s historic Everydays: The First 5000 Days collage-artwork, which was sold for $69.3 million early March this year. The auction served as an important milestone in the NFT-craze, solidifying MakersPlace’s role within the space; setting the record for the largest sale of a digital artwork, and somewhat opening up the significance of the creator economy to the masses.
The past six months have seen an array of industries getting into the game of Non-Fungible-Tokens (NFT’S).
“For years, we saw first hand all the issues that plagued digital creators with their works being stolen, misappropriated and undervalued” – Dannie Chu, MakersPlace CEO
Digital art and collectables present an opportunity for creators and issuers to be connected to their fans and followers. From sports teams to automobile companies over to artists – NFT’s seem to be here to stay. Melding various industries with blockchain technology, the NFT-space continues to lure celebrities and industry leaders such as Sony Music Entertainment into investing. Eminem and Paul Rosenberg (co-founder of hip hop label Shady Records) were the last to join in the fun as strategic investors in the recent funding round of MakersPlace.
Building on top of recent highs during March and May of this year, the NFT space is making new highs as the weekly NFT-market wallets chart by The Block suggests. Going forward, it will be interesting to see whether the digital art and collectables space are truly able to empower artists, moving past the crazed hype phase they’re currently still in the midst of.
This content was originally published here.