Hot Drops raises $2.4 million in Seed funding

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Hot Drops raises $2.4 million in Seed funding
06 Apr 2022
6 min read


News Synopsis

Recently, NFT marketplace Hot Drops has announced that it has raised $2.4 million in its Seed funding round. They also launched their platform at NFT.LA. The company allows mainstream and adult NFTs to safely coexist on the same platform. Transform Ventures founder Michael Terpin and David Jensen are the lead investors and advisors in the company. Mr. Terpin has rich experience in working with more than 200 Blockchain PR clients. Mr. Jensen, on the other hand, founded and led EY's Global Innovation and Digital Business team. Hotdrop in its statement stated: “It is ahead of the curve on the enforcement of regulations being passed in several countries around the world, through uniquely age-verified accounts to purchase or view content and enforces an invite-only acceptance program for established creators. Hot Drops is shifting the paradigm of content being taken for free and rewarding loyal fans for purchasing content in a gamified experience.” The company further informed that by the end of this year, it will also be launching a new two-sided marketplace. This new marketplace will let you buy, sell, rent creator content, and monetize brands. Content creators can also earn royalties on their content for the first time, even after they retire.

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