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Investor Highlight: Investors Hungry for NFT Startups

Investor Highlight: Investors Hungry for NFT Startups
December 14, 2021

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The NFT marketplace OpenSea has seen explosive growth and is fielding calls for a new funding round, with offers reportedly at a $10BN valuation. The lure of NFTs remains strong despite some worry about pending regulation and possibly baffling trading values for digital rock collections. No matter what you think about the hype, it’s an excellent time to be OpenSea. The company takes 2.5% of each transaction, and the company reached $10BN in all-time sales last month.  

The company last raised in July, with a $100MM Round B led by Andreessen Horowitz that included angel investors/celebrities Kevin Durant and Ashton Kutcher. They didn’t initiate this funding round, but investors are clamoring for a piece of the pie after a record-breaking summer. Elsewhere, cryptocurrency exchange FTX raised at a $25BN valuation while Dapper Labs and Bitski are also on the heat map. Private equity groups BlackRock and ICONIQ Capital participated in the historic FTX round, signaling the mainstream adoption of crypto-related companies.

The future of NFTs will incorporate more immersive experiences alongside the ownership rights of collectible tokens. Events like NFT popups and exclusive dinners, as well as clothing and other tangibles, are becoming part of the appeal for NFT owners. The metaverse promises to make NFTs the luxury sector of the online world, swapping Louis Vuitton handbags for CryptoPunk icons. 

Check out our advanced search filter for more on NFT companies and their investors.

UBS gets hit where it hurts
The major bank is hit with a $2BN penalty for helping French clients avoid taxes.
[NY Times]
Electric vehicles at Honda prices?
Lucid Motors' CEO sets goal for lower-cost EVs and urges automakers to do the same.
[Axios]
Since last week, PrivCo has added:

591 Companies | 496 Funding Activities | 52 M&A Deals

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Funding & Deal Highlights:
 

SnapLogic raises $165MM from Sixth Street Growth

Data Integration • Equity • San Mateo, CA
 

Dray Alliance raises $40MM from Headline

Delivery Platform • Round B • Long Beach, CA
 

Palm NFT Studio raises $27MM from Microsoft Ventures

NFT • Round B • Dover, DE
 

Nuvocargo raises $20.5MM from Tiger Global

Cross Border Trade • Round B • New York, NY
 

Maev raises $9MM from Springdale Ventures

Pet Products • Seed • New York, NY
 

Authoritive raises $5MM from Owl Ventures

Content Creation • Seed • New York, NY
 

Rho raises $75MM from Dragoneer Investment Group

Fintech • Round B • New York, NY
 

MoEngage raises $30MM from Steadview Capital

CRM • Round D • San Francisco, CA
 

Wonder Dynamics raises $9MM from Horizon Ventures

Digital Media • Round A • West Hollywood, CA
 

Sandboxx raises $8MM from Boathouse Capital 

Military Communications • Equity • Arlington, VA

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