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nft42's mission is to navigate the metaverse.
Nft42 focuses on building Metaverse-based brands. Since its foundation in 2019, the company has launched two well known startups; AvaStars, a digital collectibles project that sells computer-generated avatars; and Nameless, which offers software to allow brands to build their own NFT projects without any in-depth blockchain know-how.
As a brand builder, nft42’s performance can obviously only be judged by the performance of its brands, but thus far, both AvaStars and Nameless have been going strongly. When it made its digital characters available for minting in early 2022, AvaStars sold out, generating over $1 million in the process. It’s worth mentioning however that AvaStars will be a limited edition project.
As for Nameless, it looks like a company with more longevity and growth potential. VC firm Mechanism Capital has invested pretty heavily in the startup as it seeks to expand its team, suggesting that a period of rapid growth is expected.
Of course, much depends on the sustained popularity of the NFT market, which has gone through a few huge ups and stark downs in the recent past. That being said, most forecasts still maintain that the marketplace’s value will surpass $100 billion by 2030.
Kirsty
Company Specialist at Welcome to the Jungle
Oct 2021
$3.5m
SEED
Feb 2021
$0.2m
SEED
This company has top investors
Jimmy McNelis
(CEO)Originally a Settlement Coordinator at Potomac Title & Escrow, who then founded Dito and subsequently worked as a Google Program Manager.