NFT startup Zora Labs nabs $50M in spherical led by Haun Ventures

The NFT ecosystem continues to chug alongside, however the overwhelming majority of quantity remains to be shifting by the centralized halls of NFT market OpenSea, leaving crypto VCs keen to seek out new channels.

Katie Haun’s new agency, Haun Ventures, has led its first deal in NFT startup Zora Labs. The $50 million funding spherical values the corporate at $600 million.

Zora’s protocol permits artists and builders to create NFT marketplaces and collections. Zora has its personal major market the place customers can listing NFTs, just like OpenSea, however the overwhelming majority of NFTs bought on its protocol happen on third-party websites. Crypto organizations like publishing startup Mirror and collective FWB have leveraged Zora’s protocol to promote NFTs to group members.

Along with Haun Ventures, backers within the spherical embody Coinbase Ventures and Kindred Ventures. Haun notably led OpenSea’s Sequence B whereas at a16z, incomes a seat on the board.

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