FirstMate Secures $3.75 Million Investment Led by DragonFly: The initiative FirstMate, which aims to equip NFT creators with digital storefronts, recently conducted another investment round led by Dragonfly Capital, which raised $650 million in the third round of investment last year. In the round announced today, they successfully raised $3.75 million, with participation from Coinbase Ventures and NextView.

FirstMate: NFT Partnership and Marketplace Beta Launch

FirstMate also revealed a partnership with another venture in the NFT space, Manifold. Additionally, they announced the beta launch of their marketplace website.

Jacob Frantz, the CEO of the initiative, stated in a release, “Today, creators, artists, and platforms owe it to everyone who has failed to create, sustain, or grow one-dimensional markets that fail to provide the direct connection that creators and collectors have told us they want and deserve. They want it, and they don’t just carry their interests in their hearts.”

According to the description, FirstMate‘s focus is on creators rather than markets, a priority also shared by Dragonfly. This allows artists to bring their works and pieces together on a single platform, regardless of where they were created. It also places a priority on copyright.

Founded in 2022 by former employees of Instagram and Walmart, FirstMate, alongside Dragonfly, has so far opened marketplaces for companies like Bankless, FELT Zine, Sound.xyz, and others. These marketplaces currently support over a thousand collections spanning everything from productive art to luxury fashion.

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Yuga Labs had planned to sever ties with OpenSea in light of the NFT platform’s move towards a licensed optional model.

However, OpenSea investor Mark Cuban expressed concerns that stricter copyright regulations would be even worse and detrimental to the industry.

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