Zora was valued at $600 million after the $50 million investment.
Zora, a platform for non-fungible tokens (NFTs), earned $50 million in a seed fundraising round to increase the scope of its customer base. Leading venture capital firms including Haun Ventures, Coinbase Ventures, and Kindred Ventures were in charge of the investment.
The valuation of Zora reached $600 million.
Several crypto players still find NFTs to be an exciting feature, which has helped many firms collect millions of dollars in funding to improve their market position. Zora is the most recent such being.
It successfully raised $50 million in funding from Katie Haun’s brand-new cryptocurrency firm, Haun Ventures. Kindred Ventures and Coinbase Ventures were among the additional participants. It’s important to note that this was the organization Haun’s newly founded that saw its first usage of funds. She worked at Andreessen Horowitz before that (a16z).
Non-fungible tokens are categorized as a “fundamental building piece that is important to the future of Web3” by Sam Rosenblum, a Partner at Haun Ventures.
In a web that is now too highly biased toward centralized, opaque gatekeepers, he continued, “We also see Web3 developments like NFTs as a beneficial push for openness and decentralization.”
With the most recent funding, Zora’s valuation reached $600 million. The protocol promised to use the additional revenues to build a welcoming user environment where each user could start their own NFT collections, autonomous marketplaces, and experiences. Jacob Horne, a co-founder of Zora, offered the following statement in response to the decision: “For our ecosystem, this represents an acceleration of the public infrastructure that allows your progress as artists, developers, and communities. Better APIs, more Zoratopias throughout the world, more permissionless code deployed on more chains, more funding, and more hackathons all result from this.
Zora raised $8 million in an equity sale in March of last year, and $2 million in investment in October of this year.
A new Challenge from Katie Haun
Katie Haun, a former general partner at Andreessen Horowitz, departed the company earlier this year and started a venture capital fund that invests in firms in the Web 3 and cryptocurrencies. Other a16z members joined her entity as well, including Rachael Horwitz (Head of Crypto Marketing).
Soon after, Haun said that her business planned to raise an enormous $900 million for two digital asset investment funds. Of that sum, $300 million will be allocated to cryptocurrency entrepreneurs, with the remaining $600 million being raised for a fund that would support other businesses and digital tokens.
The most significant sum raised by a single female founding member, she reportedly raised a remarkable $1.5 billion, according to more current claims.