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Eminem invests in NFT platform MakersPlace

04 Aug 2021 : 22:26
2 min read
  • The rapper invested into NFT start-up Makersplace after launching his own NFT collection in April
  • The $30m Series A round was led by Bessemer Venture Partners and Pantera Capital
  • You might know Makersplace from its partnership with auction house Christie's

NFT startup MakersPlace announced a $30 million Series A round, with rapper Eminem and his manager Paul Rosenberg as the most notable investors. The rapper launched his own NFT collection in April in collaboration with Nifty Gateway, but it seems his journey into the NFT space does not end there. 

The funding round was led by Bessemer Venture Partners and Pantera Capital together with Coinbase Ventures, Draper Dragon Digital, Uncork Capital, Sony Music Entertainment, and 9Yards Capital.  Other notable strategic investors include DJ and NFT entrepreneur 3LAU, the founder and CEO of Shopify Tobi Luetke, Acquavella Galleries, and former Sotheby’s CEO William Ruphrecht. 

What is MakersPlace? 

Artists, photographers, writers, and others can use MakersPlace to create and sell their work online. One event you might know MakersPlace from is its partnership with auction house Christie’s for the sale of “EVERYDAYS: THE FIRST 5000 DAYS” NFT by artist Beeple, which sold for $69.3 million in March. 

According to MakersPlace, the Ethereum blockchain-based platform has already processed more than $100 million in transactions in 2021, and the number of users has increased tenfold. “We see this fundraise as continued validation for our mission,”said MakersPlace CEO Daniel Chu.

The NFT space is getting a lot of attention lately 

Given the increasing interest and volume in the NFT space, it is not surprising that investors are lining up to invest in NFT-related startups. For example, NFT marketplace OpenSea recently became a crypto “unicorn” with a $1.5 billion valuation after a $100 million Series B funding round led by Andreessen Horowitz. 

Virtual horse racing game Zed Run also raised $20 million for its platform in a funding round led by Andreessen Horowitz, Nifty Gateway, was valued at $1.2 billion by crypto analytics firm Messari in March and NFT projects such as Crypto Punks, Bored Ape Yacht Club and Gutter Cat Gang also reached new all-time highs this week.

About Author

Stan Colenbrander

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Stan is the head of news and podcast host at Cryptonary. He was formerly a member of the Cryptonary Pro community. In early 2021, he decided to drop out of journalism school at university to pursue journalism in real life and make an impact in the crypto space. . His areas of interest include the NFT industry, decentralised finance, and crypto start-ups.

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