$170M For Scaling Purposes: Tom Brady’s NFT Platform Autograph Conducted a Successful Series B Funding Round
Non-fungible tokens (NFTs) have taken the virtual world by storm, turning into an asset class, the popularity of which is now on par with major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). After the initial boom among digital artists, NFTs established a strong foothold in professional sports and became a part of the business endeavors of icons like Tom Brady.
Table of contents:
- Autograph gets a $170 million boost from a group of prominent investors.
- Scaling and managerial improvement are Autograph’s main goals.
Autograph gets a $170 million boost from a group of prominent investors
Tom Brady is truly a remarkable man. Not only is he a legendary football player, who won seven NFL championships and became five-time Super Bowl MVP, but also a vocal blockchain and cryptocurrency proponent, whose initiatives concerning crypto enjoy resounding success. And even though Brady is already retired, it doesn’t mean that the NFL has become duller - there are tons of betting opportunities because as they say, “On any given Sunday, any team can beat any other team.”
One of these initiatives took the shape of the NFT platform dubbed Autograph where sports and music stars, as well as famous brands, get to publish their NFT collections. The platform already features limited-edition collectibles from Tom Brady himself, along with Tiger Woods, Wayne Gretzky, Tony Hawk, Usain Bolt, SLAM, and the Saw franchise.
The scope of features on that platform is about to get much broader as the company has secured $170 million in additional funding as the result of the successful Series B round. Autograph reported that the said round was spearheaded by American venture capital firms Andreessen Horowitz (a16z) and Kleiner Perkins, with significant investments also coming from Nicole Quinn, the general partner at Lightspeed Venture Partners, and Kathryn Haun, the general partner at a16z. The investment firm 01 Advisors (01A), which led the Series A round together with Velvet Sea Ventures, also made a sizable contribution.
Scaling and managerial improvement are Autograph’s main goals
Autograph’s executive team declared that the acquired monies will be used to further scale the platform’s technological capabilities, attract new sports and entertainment partners, and contribute to the evolution of Web3. Along with that, the platform’s board of directors will be supplemented with new members, namely Katie Haun, Arianna Simpson and Chirs Dixon, both are key figures at Andreessen Horowitz, and Ilya Fushman from Kleiner Perkins. The current board consists of 01A’s Dick Costolo and Michael Lazerow from Velvet Sea Ventures, as well as Tom Brady, Richard Rosenblatt, Sam Bankman-Fried, and the singer The Weeknd.
Ilya Fushman reiterated that Autograph is “committed to innovation and partnering with new exciting entities to create collectibles and experiences that allow fans to grow closer to (sports) icons.” He also praised the platform for being at the forefront of the NFT space with plans to facilitate access to blockchain technology for creators and consumers.