DNABlock Raises $7 Million To Help Web3 Creators Mint NFT Avatars
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Los Angeles-based DNABlock, which helps Web3 creators mint non-fungible tokens (NFTs) of avatars, has raised $7 million in what the startup calls a second seed round.
The funding was led by investors Sfermion, Solana Ventures, Animoca Brands and Non-Fungible Labs, with additional participation by the likes of SoftBank and Gaingels. The new round comes after the company previously raised $1.2 million in initial seed funding in September.
DNABlock plans to use the capital to further develop and scale its flagship Replikant software tool, which lets creators make video game-quality 3D avatars and animated content without needing experience in coding or animation. The startup, which launched in 2017, also plans to launch an L.A. studio for creators working on NFTs and add to its leadership ranks.
“When people began writing essays about the metaverse two years ago, we were already building the tools to make it happen.” DNABlock co-founder and CTO Luc Schurgers said in a statement. “It was clear from the start that procedurally generated avatars and animation were the future, so we assembled a team of game engine veterans with several AAA-titles under their belts and got busy.”
The firm says its Replikant technology is interoperable—meaning that an avatar’s code can jump from one Replikant-powered world to another. With more creators relying on blockchain technology to build their brands, Schurgers said other startups in the space are now “play[ing] catch-up” to DNABlock’s platform.
The company also announced that it has hired former YouTube virtual reality executive Scott Broock as its chief strategy officer. Broock also formerly served as head of digital strategy for animation studio Illumination.
Previous DNABlock investors include Twitch co-founder Kevin Lin and Mike Shinoda of the rock band Linkin Park.
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