Info-tech

NFTically, a NFT marketplace creator, raises seed funding

Our Bureau Bengaluru | Updated on October 12, 2021

The investors include Nitish Mittersain of Nazara Games, Unacademy co-founder Gaurav Munjal, Udaan Co-founder Sujeet Kumar and Bollywood actor Kunal Kapoor

NFTically, a global NFT marketplace creator, has raised under 1 million seed funding from a clutch of angel investors.

The investors include Nitish Mittersain (Nazara Games), Gaurav Munjal (Unacademy co-founder), and Sujeet Kumar (Udaan Co-founder), Kunal Kapoor (Bollywood actor), Surojit Chatterjee (Coinbase CPO) and other global investors.

NFTically plans to direct the new funds towards team building, marketing, and enhanced product development. It will further boost the success received by enterprises, celebrities, and influencers by monetising through their own stores.

With the vision of increasing accessibility to NFTs, NFTically allows users and organisations from non-technical backgrounds to launch their own white-label NFT Marketplace or store to mint, sell, and buy non-fungible tokens (NFTs).

NFTically sees promise for sports federations, Bollywood movie studios and corporate India to adopt its product in the coming months and remains keen to offer a clear strategy to support them. The company has a focus on catering to gaming and enables monetisation of digital assets on any existing website.

NFTically Founder and CEO, Toshendra Sharma said, "Today, not only celebrities, content creators, artists, influencers, and gamers, but now businesses are also more than ever looking to monetise their digital assets. Executives are seeing how NFTs are creating value for their business. Our aim is to empower everyone to create wealth with ease by launching their own NFT marketplace on a global stage."

Talking about the announcement, Nitish Mittersain, MD Nazara, and investor in his personal capacity in NFTically said, “While NFTs are still in the formative years, the expansive and bustling NFT ecosystem sees constant innovation and I am certain that NFTically has the right team and vision to capitalise on it as the ecosystem matures."

Talking about the future fundraising plan, strategic advisor to the company, Jitendra Tatiya (Creago Advisors LLP) said “We are excited to see interest from global investors. NFTically is in a space that can absorb large investments for market penetration. We are already in the process of raising a larger Pre-Series A round and expanding the business footprint”.

Considering the growing interest of millennials and Gen-Z in the digital assets segment, the platform aims to work towards building NFT education and awareness among users, while enabling them to reap the optimum benefits of NFTs at the same time. Recently, the platform made a record by selling Bollywood’s first NFT - ZEE Studios - where it sold the NFTs at 6x more than the expected price.

Published on October 12, 2021

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