Autograph, an NFT agency founded by Tom Brady (famous NFL player), has raised $170million in series B financing round. According to the company, the round was led and participated by Kleiner Perkins and Andreessen Horowitz. Funds raised will be used to expand the company, with unnamed partners reportedly in the works.
Autograph Raises $170 Million
Autograph, the NFT company that NFL player Tom Brady founded last year, raised $170million in its most recent funding round. The Series B was led by two companies: a16z and Kleiner Perkins, with the participation of Katie Haun’s new fund and Lightspeed partner Nicole Quinn. The milestone marks an important moment for the startup. It raised $35m in Series A financing round and reached a valuation at $700 million. It did not reveal its updated valuation at this point.
Tom Brady, the co-founder, expressed optimism about Autograph and web3’s future. He stated:
There is some big news from Autograph. We’re excited to welcome some Web3 specialists to the team.
The operation of the company is to act as a bridge between athletes and entertainers and to sell NFT memorabilia to fans. It has attracted a lot of NFT participants, such as Tiger Woods and Naomi Osaka, Tony Hawk and Simone Biles.
Arianna Simpson is general partner of A16z and spoke about the company’s performance:
In the last six months, Autograph has proven itself to be an amazing rocketship. They are delivering exciting digital experiences to mainstream consumers through their NFT platform.
In Sight: Expansion
The company announced the outcome of its funding round in a press release. It stated that it intended to expand its community on a large scale and that it had already finalized additional partnerships. These will be revealed soon.
Last year, the company announced a deal with Draftkings, to launch a joint NFT marketplace with the objective of allowing users to take possession of and trade their NFTs acquired via Autograph’s drops. The market uses Polygon — an Ethereum expansion sidechain — to complete its operations. This sidechain is designed to reduce the high fees NFT owners have to pay for Ethereum.
What do you think about Autograph’s latest funding round? Leave a comment below.
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