Ethereum-based fashion and music marketplace Zora raises $2 million in seed round

Ethereum • October 16, 2020, 5:16PM EDT
The Block

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 SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

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. 

About Author

Saniya More (pronounced: Saan-ya Mo-ray) is a quadrilingual journalist at The Block. She got her master’s degree from the Columbia University Graduate School of Journalism and did her undergraduate degree at the S.I. Newhouse School of Public Communications, Syracuse University. Her work has appeared in CBS News, Bangkok Post, Thai Enquirer, Globalists, Byline Times and other publications. When she’s not chasing a story, you will most likely find her biking, tweeting, taking photos or creating Spotify playlists for every occasion.