Cryptocurrencies: 5,984
Markets: 542
Marketcap: $ 392.09 B
24h Vol: $ 55.19 B
BTC Dominance: 60.69%

Global market data

Cryptocurrencies: 5,984
Markets: 542
Marketcap: $ 392.09 B
24h Vol: $ 55.19 B
BTC Dominance: 60.69%

[THE BLOCK] Ethereum-based fashion and music marketplace Zora raises $2 million in seed round

The Block

Ethereum-based marketplace Zora has raised $2 million in a seed funding round led by venture capital fund Kindred Ventures, according to a report by TechCrunch published Friday. 

According to the report, additional investors include Trevor McFedries from startup Brud, Alice Lloyd George, Jeff Staple and Coinbase Ventures. 

The Zora marketplace, built by the team behind the viral Saint Fame project, is meant to enable fashion brands and musicians to launch products in a tokenized form. Brands can generate revenue based on different product demands, and items are tokenized and sold on a bonding curve — an emerging token sale model in which the value of the token increases algorithmically with each new purchase. 

The project’s creator, Jacob Horne, has said Zora’s goal this year is to onboard 100 brands onto the marketplace. 

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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