In this article, we discuss the 5 NFT startups investors are flocking to. If you want to read our detailed analysis of these stocks, go directly to the 10 NFT Startups Investors are Flocking To.
5. Dapper Labs
Dapper Labs is a company that makes blockchain-based products for specific needs of users and is geared towards sports and entertainment purposes. It supports NFTs as well. The company was founded in 2018 by Dieter Shirley, Mack Flavelle, and Roham Gharegozlou. It has raised more than $357 million in funding so far over six rounds. The latest round, held in March, brought in $305 million. Some of the investors in the project are True Capital Management and Andre Drummond, among others.
The company is based in Canada. In June, after the success of the Flow blockchain, the company announced that it was partnering with Prime Trust to launch a new dollar-backed stablecoin. In April, news platform The Information reported that the company was valued at close to $7.5 billion after raising $305 million in a funding round in March.
4. Decentraland
Decentraland is a Chinese virtual reality platform that is powered by the Ethereum blockchain. It was founded in 2017 by Esteban Ordano. The startup has so far raised $25 million in funding over three rounds, with the latest round held last year. Some of the investors on the project are Digital Currency Group and Animoca Brands, among others. A total of seven investors have so far put their money in the company. The company offers users the ability to live a virtual life using VR headsets and the software marketed by the firm.
In June, crypto news platform Coin Telegraph reported that a piece of land on the virtual reality platform of the company had sold for almost $1 million. The sale, in the form of NFTs, was compared to the price of an actual property in New York to give investors an idea of the explosive growth potential of NFTs.
3. CryptoKitties
CryptoKitties is a blockchain-based platform which allows users to collect and breed virtual reality cats. It was founded in 2017 by Benny Giang, Bryce Bladon, Dieter Shirley, Fabiano Soriani, Guile Gaspar, Mack Flavelle, Mik Naayem, and Roham Gharegozlou. The startup has so far raised $23 million in funding over four rounds, with the latest round held in August last year. Some of the lead investors in the project, which has accepted investments from 25 different investors, are Union Square Ventures and a16z crypto, among others.
The game was designed by San Francisco-based studio AxiomZen. According to technology news publication TechCrunch, in the year the game was released, users spent more than $1 million on virtual cats. Some have compared the game to the Pokemon cards marketed to children. The game supports NFTs.
2. Illuvium
Illuvium is a game developed by an Australian company that gives users the chance to explore and capture NFT creatures in combat. It was founded in 2020 and has raised $5 million in funding so far over one round, held in March this year. The investors in the startup are Framework Ventures and ISG Ventures.
In May, crypto platform Bitcoin.com reported that the digital tokens for Illuvium were now available for trade on the crypto exchange owned and maintained by the company. The firm claims that the game goes one step ahead of CryptoKitties as it improved on that game from a visual perspective. It is placed second on our list of 10 NFT startups investors are flocking to.
1. Alchemy
Alchemy is a platform that helps firms build quality decentralized applications. It was founded in 2017 by Joseph Lau and Nikil Viswanathan. The startup is headquartered in San Francisco. It has so far raised close to $14 million in funding over four rounds. The latest round, held in April, brought in $80 million. The company has a total of 46 investors so far. These include Coatue, Stanford University, and Jerry Yang, among others. The company is valued at over $500 million, according to technology news publication TechCrunch.
On August 9, crypto news platform CoinSpeaker reported that Alchemy had launched virtual crypto cards in partnership with big payments firms like Visa and Mastercard. Alchemy holds the honor of powering the digital token sold by artist Beeple for a record-breaking $69 million in the most expensive NFT sale of all time.
You can also take a peek at 10 Companies that Benefit From Crypto Mining and 10 Best Blue Chip Dividend Stocks Hedge Funds are Buying.
