The NFT ecosystem just keeps going, but the bulk of the volume is still moving through the centralized halls of the NFT marketplace OpenSea, making crypto VCs eager for new channels.
Katie Haun’s new company, Haun Ventures, has led its first deal in NFT startup Zora Labs. The $50 million financing round values the company at $600 million.
Zora’s protocol allows artists and developers to create NFT marketplaces and collections. Zora has its own primary marketplace where users can list NFTs, similar to OpenSea, but the vast majority of NFTs sold over the protocol take place on third-party sites. Crypto organizations such as publishing startup Mirror and collective FWB have used Zora’s protocol to sell NFTs to community members.
In addition to Haun Ventures, there are backers in the round including Coinbase Ventures and Kindred Ventures. Notably, Haun led OpenSea’s Series B while at a16z, earning a place on the board.