Sony Music, Eminem Invests In $30 Million Funding Round In NFT Marketplace

Snippets


• Eminem and other top hip-hop musicians like Paul Rosenberg invested in NFT market place startup MakersPlace.

• Sony Music also joins hand in the funding.

• MakersPlace, situated in San Francisco, recently announced a $30 million funding round.

MakersPlace nft marketplace
MakersPlace

Non-fungible token (NFT) digital collectibles continue to be in high demand. Among the investors in MakersPlace are rapper Eminem as well as Sony Music Entertainment. The company has raised $30 million in capital from investors.

MakersPlace, situated in San Francisco, recently announced a $30 million funding round.

Uncork Capital, Draper Dragon Digital Assets, 9Yards Capital, Coinbase Ventures, and Sony Music Entertainment all contributed to the round, which was led by Bessemer Venture Partners and Pantera Capital.

In addition to Eminem, Paul Rosenberg, and 3LAU in music, Acquavella Galleries, Sabrina Hahn, and Bill Ruprecht in the arts; Larry Fitzgerald and Sharrina Glazer in sports; and Eric Baker, Julia and Kevin Hartz, Vinny Lingham, and Tobias Lütke in tech, the round included strategic investors Eminem, Paul Rosenberg, and 3LAU.

“We see this fundraise as continued validation for our mission. We will continue to push boundaries and empower digital creators with better tools and services, while finding more ways to introduce digital art and NFTs to a mainstream collector audience.” — Daniel Chu said in an interview

About MakersPlace

MakersPlace claims that in 2021, the number of collectors utilising its platform increased by more than tenfold, and the firm processed more than $100 million in transactions.

Artist Beeple’s $69.3 million sale of digital artwork “Everydays: The First 5000 Days” through Christie’s was the company’s greatest NFT event.

MakersPlace has previously received startup funding of $2 million. CEO Dannie Chu, formerly of Pinterest’s head of growth engineering, CTO Yash Nelapati, also of Pinterest, and head of marketing Ryoma Ito, previously of VC-backed ecommerce firms Mertado and SpecialDeals, launched the company.

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