NFT-focused holding company raises $50M Series A

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Nonfungible token projects have raised billions of dollars in venture funding over the past year, underscoring heightened demand in the sector.

Digital asset curator Metaversal announced Tuesday that it has completed a $50 million funding round to further expand its investment capabilities in the nonfungible token (NFT) and metaverse sectors.

The Series A funding round was co-led by investment firms CoinFund and Foxhaven, with additional participation from Collab+Currency, Dapper Labs, Digital Currency Group, Franklin Templeton, Rarible, Theta Blockchain Ventures, Galaxy Vision Hill and others.

Metaversal said it will use the funding to expand its NFT-focused business, including acquiring high-profile digital collectibles and supporting projects that are being bootstrapped by its venture studio. The funding also enabled Metaversal to secure partnerships with NFT platform Rarible and Dapper Labs’ Flow blockchain. Flow, which provides the infrastructure for NBA Top Shot and CryptoKitties, is also being supported by Google and Filecoin, among other notable partners.
https://cointelegraph.com/news/nft-focused-holding-company-raises-50-series-a