This Beverly Hills Startup Just Raised Millions to Help Brands Mint NFTs

Harri Weber

Harri is dot.LA's senior finance reporter. She previously worked for Gizmodo, Fast Company, VentureBeat and Flipboard. Find her on Twitter and send tips on L.A. startups and venture capital to harrison@dot.la.

This Beverly Hills Startup Just Raised Millions to Help Brands Mint NFTs
Photo by Kanchanara on Unsplash

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A new blockchain startup called NFT Brands has unveiled a $3.6 million seed funding round today as it barrels into the $40 billion-plus market for non-fungible tokens.

The Beverly Hills-based company is aiming to launch “multimillion-dollar NFT projects” for brands and celebrities, according to founder and CEO Noah Loul. NFT Brands closed the seed round in under two weeks, Loul said, and is now turning its attention to a targeted $35 million Series A round that is slated to open to investors today.


“A day [in the blockchain and NFT market] is like a month in traditional industries,” Loul told dot.LA. “It moves at lightspeed. It’s a rocket, and we’re just adding the fuel to it right now.”

Loul declined to identify the investors involved in the seed round. A regulatory filing indicates that four investors participated in the funding.

NFT Brands pitches itself as handling the entire NFT creation process for brands and “elite figures,” from the design process to public relations and community management. The agency-like concept is a “fully-integrated development company,” in Loul’s words, that covers NFT production costs upfront; in exchange, NFT Brands typically receives about a 30% cut of the proceeds.

Loul said NFT Brands already has “$154 million [in NFT deals] in our pipeline with some of the largest brands,” though he declined to share names.

These days, numerous startups are raising millions off the hype that surrounds NFTs, not to mention cryptocurrencies and the wider blockchain-related phenomenon known as Web3. Los Angeles has quickly established itself as an epicenter for entertainment-related ventures that are helping music artists, athletes and celebrities get into the NFT game.

Earlier this month, Santa Monica-based venture capital firm M13 closed a new $400 million fund that it said will deploy Web3 technology as an overarching investment thesis.

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Genies Wants To Help Creators Build ‘Avatar Ecosystems’

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Genies Wants To Help Creators Build ‘Avatar Ecosystems’

When avatar startup Genies raised $150 million in April, the company released an unusual message to the public: “Farewell.”

The Marina del Rey-based unicorn, which makes cartoon-like avatars for celebrities and aims to “build an avatar for every single person on Earth,” didn’t go under. Rather, Genies announced it would stay quiet for a while to focus on building avatar-creation products.

Genies representatives told dot.LA that the firm is now seeking more creators to try its creation tools for 3D avatars, digital fashion items and virtual experiences. On Thursday, the startup launched a three-week program called DIY Collective, which will mentor and financially support up-and-coming creatives.

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Here's What To Expect At LA Tech Week

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Here's What To Expect At LA Tech Week

LA Tech Week—a weeklong showcase of the region’s growing startup ecosystem—is coming this August.

The seven-day series of events, from Aug. 15 through Aug. 21, is a chance for the Los Angeles startup community to network, share insights and pitch themselves to investors. It comes a year after hundreds of people gathered for a similar event that allowed the L.A. tech community—often in the shadow of Silicon Valley—to flex its muscles.

From fireside chats with prominent founders to a panel on aerospace, here are some highlights from the roughly 30 events happening during LA Tech Week, including one hosted by dot.LA.

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LA Tech ‘Moves’: HyperDraft Taps LegalZoom Exec

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

LA Tech ‘Moves’: HyperDraft Taps LegalZoom Exec
Photo by James Opas | Modified by Joshua Letona

“Moves,” our roundup of job changes in L.A. tech, is presented by Interchange.LA, dot.LA's recruiting and career platform connecting Southern California's most exciting companies with top tech talent. Create a free Interchange.LA profile here—and if you're looking for ways to supercharge your recruiting efforts, find out more about Interchange.LA's white-glove recruiting service by emailing Sharmineh O’Farrill Lewis (sharmineh@dot.la). Please send job changes and personnel moves to moves@dot.la.

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