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With the capital, Autograph anticipates scaling its NFT technology with the help of Web3 to the mainstream market.
Autograph, an NFT platform that brings together the most iconic brands and notable names in the sports and entertainment industry, has announced the closing of a Series B funding with $170 million that was co-led by a16z and Kleiner Perkins. Additional participants include venture firm 01A, Nicole Quinn from Lightspeed Partner, and Katie Haun.
Notably, the firm closed its Series A funding round last year that was co-led by 01A and Velvet Sea Ventures. With the capital, Autograph anticipates scaling its NFT technology with the help of Web3 to the mainstream market.
Following a successful funding round, Autograph will be welcoming Katie Haun, Arianna Simpson, Ilya Fushman, and Chris Dixon to its board members. They join other board members who include co-founders and co-chairmen Richard Rosenblatt and Tom Brady, CEO Dillon Rosenblatt, as well as Eddy Cue, Sam Bankman-Fried, Adam Bain, Abel Tesfaye aka The Weeknd, Peter Mattoon, and Michael Meldman.
In a statement through a press release, Arianna Simpson, general partner at a16z said that the Autograph has significantly grown since its inception, six months ago. Moreover, the firm has already signed notable brands including Tom Brady, Tiger Woods, Naomi Osaka, The Weeknd, Simone Biles, Tony Hawk, and Derek Jeter.
“The company is becoming a magnet for top talent, and I’m delighted to join the Board to help Autograph bring exciting new NFT experiences to the mainstream,” Simpson noted.
Autograph and the Evolving Web3 and NFT Market
Autograph is combining the powers of Web3 and the vast NFT market to scale its ecosystem to the mainstream market. Backed by notable tech investors, the NFT platform is strategically poised to take the digital collectible market by storm in the coming years.
“We’re in the midst of an exciting moment in the evolution of the next generation of the internet. The benefits of being an early adopter of web3 products and services as a creator or a consumer are real but there have historically been significant barriers to entry for most people,” said Katie Haun. “Autograph has assembled a world-class team that understands how to build trusted, delightful product experiences that will accelerate the mainstreaming of crypto.”
The NFT market experienced notable growth in 2021 with notable investors and art collectors working together. The $69 million artwork by Beeple significantly shifted the NFT market, and the emergence of notable platforms like OpenSea.
According to Ilya Fushman, Partner at Kleiner Perkins who is joining the firm’s board members, Autograph will offer creators and consumers a decentralized ecosystem.
“The team at Autograph is committed to innovation, and partnering with new exciting entities to create collectibles and experiences that allow fans to grow closer to icons across verticals,” said Fushman.