NFT Software Firm Nameless Raises $15M to Expand Its Team

Mechanism Capital led the seed round at a $75 million valuation.

AccessTimeIconOct 28, 2021 at 1:00 p.m. UTC
Updated May 11, 2023 at 3:58 p.m. UTC

Nameless, a company that helps brands launch and manage non-fungible tokens (NFT), has raised $15 million in a seed round led by Mechanism Capital at a $75 million valuation. Nameless will use the funds to build out its team.

Nameless develops Application Programming Interface (API) software for NFT creation, testing and sales to make it easier for brands to securely integrate NFTs into their platforms. Strategic partnerships and clients of Nameless include auction house Sotheby’s, rapper Snoop Dogg and Gary Vaynerchuk’s VeeFriends.

  • Meme Coin Liquidity Hits Record High
    00:46
    Meme Coin Liquidity Hits Record High
  • How Ledger Stax Plans to Make Self-Custody More Mainstream
    16:42
    How Ledger Stax Plans to Make Self-Custody More Mainstream
  • Why Dogecoin Is a 'Weird' Investment
    16:39
    Why Dogecoin Is a 'Weird' Investment
  • AI Tokens Surge as Nvidia Becomes World’s Most Valuable Company
    00:47
    AI Tokens Surge as Nvidia Becomes World’s Most Valuable Company
  • Other participants in the funding round included Velvet Sea Ventures, Red Beard Ventures and Delphi Digital, among others. Several investors who participated in Nameless parent Nft42′s seed round earlier this year also joined in, including Sound Ventures and Gary Vaynerchuk’s VaynerFund. Nft42 counts entrepreneur Mark Cuban, Salesforce.com CEO Marc Benioff and talent manager Guy Oseary among its backers.

    “NFTs are revolutionizing digital ownership on a global scale. Whether it’s a single NFT drop or the creation of an entire marketplace, our technology makes things easy, cost effective, and secure,” said Jim McNelis, founder and CEO of Nameless and Nft42, in a press release.

    “We expect the nascent NFT industry to grow into a multihundred-billion dollar market that disrupts many others along the way including art, gaming, music, fashion and entertainment,” said Mechanism Capital Partner Marc Weinstein in the release. “We backed nameless because the company’s leadership had the foresight to see this massive wave years before everyone else. They remain ahead of the curve with a bold vision to develop critical infrastructure for all market participants from independent creators to large enterprises and the communities that support them.”

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Brandy Betz

    Brandy covered crypto-related venture capital deals for CoinDesk.


    Read more about