Ethernity Raises $20 Million to Build a Celebrity NFT Platform
Launched last year, Ethernity raised the money from investors including Riot Games creative head Thomas Vu, Fanatics founder Michael Rubin and former Google CEO Eric Schmidt, as well as venture firms like Kenetic and blockchain firms like Ripple and Algorand.
The startup’s blockchain-backed platform, called Ethernal Labs, will allow athletes, artists and celebrities to offer their own NFTs, digital collectibles and merchandise, as well as metaverse-integrated experiences and play-to-earn gaming.
Ethernity has already made some headway with its platform. Last year, it teamed with Brazilian soccer legend Pele on an NFT collection, and it also partnered with Authentic Brands Group, which owns Marilyn Monroe’s intellectual property, to launch a collection of NFT artwork inspired by the legendary Hollywood actress. Retailer Toys “R” Us also launched its first NFT collection, featuring mascot Geoffrey the Giraffe, through Ethernity.
“We hope to make Ethernal Labs a provider of gaming, art and media—essentially a studio system or incubator for the world of NFTs and the Web3 creator economy,” Ethernity founder and CEO Nick Rose said in a statement.Ethernity is far from the only L.A.-based NFT startup that’s recently raised money to give athletes and celebrities a path to the world of digital collectibles: Last month saw music-focused Unblocked raise a $10 million seed round and the Tom Brady-led Autograph haul in $170 million in Series B funding.
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