Ethereum-based fashion and music marketplace Zora raises $2 million in seed round
October 16, 2020, 5:16PM EDT
1 min read
Ethereum-based marketplace Zora has raised $2 million in a seed funding round led by venture capital fund Kindred Ventures, according to a report by TechCrunch published Friday.
According to the report, additional investors include Trevor McFedries from startup Brud, Alice Lloyd George, Jeff Staple and Coinbase Ventures.
The Zora marketplace, built by the team behind the viral Saint Fame project, is meant to enable fashion brands and musicians to launch products in a tokenized form. Brands can generate revenue based on different product demands, and items are tokenized and sold on a bonding curve — an emerging token sale model in which the value of the token increases algorithmically with each new purchase.
The project's creator, Jacob Horne, has said Zora's goal this year is to onboard 100 brands onto the marketplace.