Jay-Z, A16z Back $19M Funding Round for NFT Platform Bitski
Describing itself as the “Shopify for NFTs,” Bitski aims to provide an easy platform for brands to sell digital goods.
Bitski, a non-fungible token (NFT) platform, has raised $19 million in Series A funding from investors, including Jay-Z and Andreessen Horowitz (a16z) and returning investors Kindred Ventures and Galaxy Digital.
- Describing itself as the “Shopify for NFTs,” Bitski aims to provide an easy platform for brands, game developers and consumers to create, buy and sell digital goods.
- Ari Emanuel, the CEO of media agency Endeavor, is also listed among investors who participated in the round, according to an announcement Thursday.
- Bitski was backed by Galaxy Digital, Winklevoss Capital and Coinbase Ventures in a $1.81 million seed funding round in November 2019.
- At the time, Bitski’s focus was developing a crypto wallet that could be easily embedded into other applications, such as video games.
- The company has now pivoted toward the NFT market, providing a platform for the sale of NFTs by such brands as Adidas and World Wrestling Entertainment (WWE).
Read more: Zora Gets In on NFT Funding Craze With $8M Raise, SEC Documents Show
Correction (May 7, 17:02 UTC): Serena Williams, the tennis star and investor previously mentioned in this piece, has been removed at Bitski's request. The startup said Friday her investment documents have not been finalized.
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Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Why it matters:
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
