NiftyApes Raises $4.2 Million In Seed Round With Coinbase Ventures Involved

NFT lending company NiftyApes announced that it had raised $4.2 million in a seed funding round co-led by Variant and FinTech Collective, with participation from Robot Ventures, Polygon, Coinbase Ventures, and others.

The financing was headed by Variant and FinTech Collective. Robot Ventures, Polygon, Coinbase Ventures, The LAO, FlamingoDAO, and Ryan are among the other participants.

Sean Adams, David Hoffman, Eric Conner, Anthony Sassano, Cyrus Younessi, DC Investor, James Young, James Duncan, Nadav Hollander, and Brendan Forster are among those who have participated. The money will be utilized to grow the team.

The startup follows a trend of venture investors showing interest in NFT-focused debt financiers.

NiftyApes seeks to expand the secondary loan market for NFTs, shifting it away from predatory lending practices that reward the rich in Web2 environments. NiftyApes attempts to do this by encouraging market competition to refinance an NFT loan automatically.

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