namelessTM, the developer of leading API software for the issuance, testing, and sale of non-fungible tokens (NFTs), announced today the close of a $15 million seed investment round led by Mechanism Capital, a leader in the blockchain investing space with a focus on NFTs and decentralized finance. The investment brings nameless' valuation to $75 million.
Mechanism Capital is joined by investors Velvet Sea Ventures, Red Beard Ventures, Delphi Digital, Fenbushi Capital, Third Prime, Cultur3 Capital, Michael Rubin, Dez Bryant, Spartan Group, D64 Ventures, Flamingo DAO, The LAO, and Wursta Ventures, among others.
Also joining the round are several investors that participated in nft42's seed investment round that closed earlier this year, including Sound Ventures and Gary Vaynerchuk's VaynerFund. Other investors of nft42TM, the parent company of nameless, include Mark Cuban, Marc Benioff, Guy Oseary, Michael Rapino, Outlier Ventures, and Shaun Neff.
This round of funding for nameless comes as Fortune 500 leaders, global brands, entrepreneurs, celebrities, and influencers are showing increased interest in NFTs. It also comes at a time of rapid expansion for nameless, which will use the capital to expand its team and further enhance and deliver on its mission of making the creation, customization, and adoption of NFTs easier and more accessible for individuals and enterprise companies alike. The company currently offers streamlined API solutions that allow developers to easily and securely integrate NFTs into their platforms.
Recent strategic partnerships and clients of nameless include Gary Vaynerchuk's VeeFriends, Sotheby's, Snoop Dogg, and an athlete-focused NFT platform called Personal Corner founded by former Cowboys football star Dez Bryant. nameless plans to launch to the public early next year.
Jim McNelis, Founder and CEO of nameless and nft42
"NFTs are revolutionizing digital ownership on a global scale. Whether it's a single NFT drop or the creation of an entire marketplace, our technology makes things easy, cost effective, and secure."
Marc Weinstein, Partner at Mechanism Capital
"We expect the nascent NFT industry to grow into a multi-hundred billion dollar market that disrupts many others along the way including art, gaming, music, fashion, and entertainment.
We backed nameless because the company's leadership had the foresight to see this massive wave years before everyone else. They remain ahead of the curve with a bold vision to develop critical infrastructure for all market participants from independent creators to large enterprises and the communities that support them."
Michael Lazerow, Managing Director at Velvet Sea Ventures
"nameless' experience building several of the most successful early Web3 projects gives the company a first-mover advantage. This financing adds fuel to its superior product offering and impressive management team that will allow it to sustain its hyper growth. In the same way software like Buddy Media helped companies connect with customers in entirely new ways, nameless makes it super simple for organizations to provide digital ownership opportunities to their communities. nameless empowers any organization to use blockchain technologies, NFTs and cryptocurrencies to fully align its interests with its community members."
Tom Shaughnessy, Managing Partner at Delphi Digital
"nameless is empowering iconic brands to provide custom NFT experiences with their communities through a white glove relationship provided by an expert partner program. Delphi is proud to back Jim and the entire team."
