In Brief:
- NFT tech firm Mojito raised $20M in its first funding round.
- The funding round led by the Future Perfect Ventyre with other Participants.
- Funding will be used to further develop its product and engineering teams
Sotheby’s backed non-fungible token(NFT) tech firm Mojito raised $20M in its first funding round, which bring company valuation to $100 million.
According to the announcement, the Future Perfect Venture led the round with other participants. It includes Creative Artists Agency and NEA’s Connect Ventures, CMT Digital, Sfermion, Ancient, Moore Strategic Ventures.
The company plans to use the new capital to develop its engineering team in order to continue developing the Mojito platform. Additionally, the company generates more partnerships to launch brand-specific NFT marketplaces that work differently from today’s standards.
“Having worked with this team for the last several months, we are excited to partner with Mojito to power the Sotheby’s Metaverse and to generate a platform for others to explore the possibilities of NFT,” said Charles F. Stewart, Sotheby’s CEO Sotheby’s. “Sotheby’s is in a unique position to apply our expertise and curatorial insight to the burgeoning world of digitally native art and the Mojito partnership will only expand our capabilities.”
Recently, the auction house Sotheby’s launched a new NFT platform called “Sotheby Metaverse.” In this collection, 53 digital art will be presented from 19 NFT collectors. Mojito backed Sotheby’s metaverse platform. Mojito is a commerce suite for generating an NFT marketplace that allows crypto payment and minting facilities to users.
Mojito CEO Dan Kinsley stated, “The company is unlocking the ability for IP of any kind to be brought into the Metaverse, which is what we believe will be the next evolution of the internet. We are thrilled to support investors who recognize the momentous opportunity for artists, celebrities, athletes, and brands to engage their audience in meaningful new ways with our technology.”
