Zora Labs raised $50 million in a seed funding investment round at a valuation of $600 million to grow its customer base. Leading venture capital firms such as Haun Ventures, Coinbase Ventures, and Kindred Ventures have all invested in Zora Labs. The platform stated that it would use the new funds to create a friendly consumer ecosystem in which anybody could launch their own NFT collections, marketplaces, and experiences. In March of last year, Zora raised $8 million in an equity offering, and it will get a $2 million investment in October 2020.
Jacob Horne, co-founder of Zora, had this to say about the move:
“For our ecosystem, this is an acceleration of the public infrastructure that facilitates your advancement as artists, developers, and communities. It means more permissionless code deployed on more chains, better APIs, more Zoratopias around the world, and an increase in grants and hackathons.”
NFTs continue to pique the interest of a sizable portion of the crypto community, allowing several firms to obtain multimillion-dollar investments to improve their position in the industry. Zora is the most recent example. Katie Haun’s new crypto fund, Haun Ventures, helped it raise $50 million in funding.
Haun Ventures partner Sam Rosenblum classified non-fungible tokens as a “core building block that is central to the future of Web3.”
He went on to say:
“We also see Web3 innovations like NFTs as a positive force for openness and decentralisation in a web currently weighted too heavily towards centralised, opaque gatekeepers.”
