JayZ, Shawn Mendes Fund “Unblocked” Raises $10 Million at $90M Valuation
Summary
The company aims to act as a consultancy in the sense that it aims at creating a platform where a brand or a celebrity will be able to not only create and distribute their NFTs, a second established marketplace would also allow for traders to trade them. Founder and CEO Harrison Wang said to Forbes: “I think when people think NFT’s, it’s just daunting for them. So that’s why we’ve been calling them ‘digital collectibles.’ It’s also why we rebranded.” In line with their mission, the company a while ago released a set of digital collectibles for the hip-hop group Cypress Group. While the company does create a lucrative offer to draw in big money from big wallets and celebrities, it still stands in competition with the likes of OpenSea who already have a major dominance in this industry. Although over the last few months the craze of NFTs did come down, it was reinvigorated this month as with the sale of 2.1 million NFTs, the total volume traded on the Ethereum chain crossed $4.2 billion.