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Dragonfly Capital Leads $3.75 Million Round for NFT Pioneer FirstMate – Crypto Funding Back?

NFT-focused startup, FirstMate, has garnered $3.75 million in funds to enhance the creation of a novel NFT storefront construction platform.

The investment round, spearheaded by the cryptocurrency-centric venture capital entity, Dragonfly Capital, saw significant contributions from esteemed investors including Coinbase Ventures and NextView. FirstMate disclosed this financial milestone in a series of posts on the social media platform X this past Monday.

Launch of ‘NFT storefront builder’

FirstMate has revealed that the funds procured will be allocated to the introduction and ongoing enhancement of their “creator-owned NFT storefront builder.”

In their discussion on platform X, FirstMate clarified that this new storefront builder was conceived to address creators’ demand for a “reliable platform where their communities can engage in transactions.”

Additionally, they highlighted that six “pioneering artists and creators” inaugurated their individual storefronts on this novel platform on its very first day.

Today, several visionary artists and creators are launching their own storefronts, made with FirstMate, including@Jen_Stark@TodayOdious@ZironiVioletta@AnneSpalter@Noble_Gallery@NotablePepes pic.twitter.com/l1TgcDeDGR

— FirstMate (@usefirstmatexyz) August 28, 2023

“We’re convinced that today’s generic NFT platforms fall short in catering to the unique needs of artists and their followers,” the company expressed. They further critiqued that traditional platforms tend to prioritize their own agenda over the specific requirements of individual creators.

“By moving away from the generic marketplace model, we minimize barriers for creators, ensuring that both artists and platforms have harmonious objectives,” the company elucidated.

FirstMate delved deeper, indicating that their innovative offering will enable NFT artists and issuers to consolidate all their NFTs in a singular hub. This allows them to establish royalty payment structures based on their preferences and to craft a marketplace that “mirrors the essence of their artistic caliber.”

Established in 2022, FirstMate’s roots trace back to founders with experience from renowned firms like Instagram and Walmart.

Currently, their platforms accommodate more than 1,000 distinct NFT assortments.

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