Jay-Z, A16z Back $19M Funding Round for NFT Platform Bitski
Describing itself as the “Shopify for NFTs,” Bitski aims to provide an easy platform for brands to sell digital goods.
May 6, 2021 at 1:00 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/R3RY5BFOSNCWDMVMNAXHTZIU6M.jpg)
Jay-Z at a Los Angeles Lakers game in March 2020.
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Bitski, a non-fungible token (NFT) platform, has raised $19 million in Series A funding from investors, including Jay-Z and Andreessen Horowitz (a16z) and returning investors Kindred Ventures and Galaxy Digital.
- Describing itself as the “Shopify for NFTs,” Bitski aims to provide an easy platform for brands, game developers and consumers to create, buy and sell digital goods.
- Ari Emanuel, the CEO of media agency Endeavor, is also listed among investors who participated in the round, according to an announcement Thursday.
- Bitski was backed by Galaxy Digital, Winklevoss Capital and Coinbase Ventures in a $1.81 million seed funding round in November 2019.
- At the time, Bitski’s focus was developing a crypto wallet that could be easily embedded into other applications, such as video games.
- The company has now pivoted toward the NFT market, providing a platform for the sale of NFTs by such brands as Adidas and World Wrestling Entertainment (WWE).
Correction (May 7, 17:02 UTC): Serena Williams, the tennis star and investor previously mentioned in this piece, has been removed at Bitski's request. The startup said Friday her investment documents have not been finalized.
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