FirstMate, a non-fungible token (NFT) startup, has recently secured an impressive $3.75 million in funding to further enhance their innovative NFT storefront builder platform. The funding round was led by Dragonfly Capital, a venture capital firm specializing in cryptocurrencies, with the participation of renowned investors including Coinbase Ventures and NextView.
A Trusted Platform for Creator Communities
FirstMate’s primary objective with this investment is to launch and expand their “creator-owned NFT storefront builder,” which has been meticulously developed to cater to the needs of creators. The startup identified a demand for a trusted and dedicated space where creators can foster their communities and conduct transactions securely.
In a thread on the social media platform, X, FirstMate introduced their storefront builder and proudly announced that six visionary artists and creators have already established their own storefronts on the platform’s debut day. They believe that existing NFT platforms fail to adequately serve the creative community, often prioritizing their own interests over the needs of individual artists. FirstMate seeks to disrupt this one-size-fits-all approach by creating a disintermediated marketplace that reduces friction for creators and aligns incentives for both artists and marketplaces.
Empowering NFT Creators and Issuers
FirstMate’s groundbreaking product allows NFT creators and issuers to consolidate all of their NFTs in one centralized location. This feature empowers creators by enabling them to enforce royalty payments on their own terms, ensuring they receive the compensation they deserve for their valuable works. Moreover, FirstMate’s platform allows creators to customize their marketplaces to reflect the quality and uniqueness of their artwork.
FirstMate’s team is comprised of industry professionals with experience from renowned companies such as Instagram and Walmart. Their passion for innovation and dedication to empowering creators has enabled them to already support over 1,000 different NFT collections through their existing marketplaces.
“We believe that creative people and their supporters are underserved by today’s one-size-fits-all NFT platforms…putting their own interests above the needs of the individual creative person.” – FirstMate
