Australia - August 17, 2022 /MarketersMEDIA/ —
NFT Apparel has continued to build partnerships, make waves in the crypto space, and successfully closed its first round of funding.
Established as an Australian company in December 2021, NFT Apparel has worked on building logistical and manufacturing partnerships around the world. They offer a suite of web3 solutions based around NFT utility.
Their primary utility is the Monetisation of NFTs (blockchain digital artworks) through merchandising and a “code free” minting dapp generator that allows any artist to create a mint event with zero code required.
The company held a private pre-seed investment round in May 2022 and has confirmed the details of their raise to the public this week.
The pre-seed round successfully raised $125,000 USD for the company giving NFT Apparel a valuation of $10,000,000 USD.
So, what is it that has investors excited?
Firstly, the protocol will consist of a Marketplace where NFT holders can stake their favourite NFTs; these staked NFTs then become available on Apparel and Merch for anyone around the globe to purchase.
When a sale is made, of say, a shirt using an NFT design, the NFT holder will receive a % of the Profits from that sale while the rest of the net profits are redistributed to the $NFTA token holders.
The Ecosystem is aimed to revolutionise e-commerce by bringing the fashion and crypto world together in a way never done before, while the revenue redistribution methods involved reward participation in the protocol from artists to NFT holders and investors.
In a recent AMA, the CEO and Co-Founder Ben Guihot commented on the company's goals.
“We are bringing real-world revenue streams on-chain and providing utility to every NFT alongside the potential for anyone with an NFT to make a passive profit through merch sales and create a real-world physical brand from their artwork in a matter of minutes.
Having an ecosystem that operates in Fiat currency and Cryptocurrency, Fashion and Blockchain are bringing the best of both worlds to the table. Many coins out there have no utility or real reason to exist other than hype. We want to show that the blockchain can be used for genuine business applications and that true revenue streams can be built in.”
The Team is set to work and has since released a wave of builds and updates to the protocol. Firstly, launching a Multi Chain NFT Marketplace that services Ethereum, BSC, Polygon, Avalanche and Metis NFT collections. They have also launched the web2 portion of the protocol and partnered with multiple collections to provide Official merchandise ranges as well as the early stages of the create your own functionality.
The next release is set for this week, with the Minting as a Service (MaaS) to go live on multiple chains. The MaaS will provide yet another differentiator from the competition (as if NFT merchandising was not enough) by enabling anyone with a set of traits or images to upload them and generate a code-free minting dapp, complete with customisable page design and a fully deployed smart contract.
“We saw a huge barrier to entry in the NFT space for artists. Sure, they could create a collection or an NFT through a marketplace, but to hold a mint even, you needed to either be a coder yourself or know someone who was. We are completely removing that barrier and changing the game by offering code-free mint events of up to 10,000 mints per collection.
Moreover, the creators then have automatic utility for their collections and can build brands around their art by being within the NFT Apparel ecosystem. With a few clicks of a button, they can also have a complete Apparel or Merchandise range, and their collectors can too.”
NFT Apparel is set to hold its first stage Public Seed sale in September 2022. The tokens will be available for purchase on Ethereum, Polygon, BSC and Avalanche with Metis to be confirmed, and at last check, the Whitelist spots are already going fast. This project is certainly worth keeping an eye on in the lead-up to the token sale!
Contact Info:
Name: Bronwen Gien
Email: Send Email
Organization: Change Digital Marketing
Website: http://www.changedigitalmarketing.co.za
Release ID: 89080214
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