Paris Hilton joined the Funding Round of Afterparty’s $4 Million Raise


Afterparty, the NFT-focussed
startup has effectively raised $4 million from angel investors to foster its
NFT ticketing platform on Polygon Network, bringing the total sum raised so far
to $7 million.
Over 25 angle
investors, creators, and VCs took part in the round, including Paris Hilton’s
11:11 Media, Spencer Rascoff (Zillow), Jason Calacanis (The Syndicate), David
Friedberg (The Production Board), Nicole Farb (Headline), Andre Iguodala (NBA
player, Catalyst Fund), Rudy Cline-Thomas (Mastry, Inc.), Reade Seiff (Sunset
DAM) and Desiree Gruber (Full Picture). Blockchange Ventures, a leading
early-stage crypto fund, in addition to Acrew Capital and TenOneTen Ventures,
venture capital groups who co-led Afterparty’s seed raise, additionally took an
interest.
“When we
launched Afterparty, we knew we were creating a new model for NFTs based on
lifetime ‘membership’ access and IRL experiences,” said David Fields, CEO of
Afterparty. “What we didn’t know was just how much and how fast the idea of
‘Coachella meets Art Basel’ would resonate with our dynamic community of
investors, artists, creators, and fans. Now, we are using that valuable support
to create something that gives back to the entire music ecosystem.”
Having
facilitated the first live music concert completely ticketed with NFTs back in
March, Afterparty is an all-in-one event ticket coordinator. Additionally, it
is preparing to launch a second NFT assortment, The Guardians, on the Polygon
Network. Moreover, its NFT Ticketing marketplace is supposed to launch at some
point in May.
As to Afterparty's
transition to Polygon, CEO David Fields made sense of it for be a work to bring
down the exchange charges. Likewise, this would assist them with separating
from stages like TicketMaster and Stubhub, which have steep exchange charges.
While Utopians
and Guardians NFTs award clients admittance to particular
Afterparty-coordinated occasions, Fields imagines broadening Afterparty's
extension past an all-in-one event host. As per him, the Afterparty will move
to turn into a committed NFT ticketing platform from now on.
“We took the
approach of launching our own events one, to prove out the model at a large
scale and two, to really build deep relationships… but over time, we see
ourselves building out more of a marketplace for experiences… concert ticketing
being one,” said David Fields.
Afterparty plans
to offer its holders advantages, for example, adaptable NFT custody, credit
card payments for users without a crypto wallet, and so on. Fields said,
“Without 99.9% of those creators’ fans having a crypto wallet. We’re sort of
far from a world where NFTs can really be used to their full potential for
creators, and we want to be part of the solution there.”

Joyashree Dey
CBW - External Analyst
INDIA