Unblocked, also known as The Non Fungible Token Company (NFTCo) rises to a US$90 million valuation following a US$10 million seed round led by Tiger Global and Penske Media Corp.
Following a US$5 million pre-seed round in July 2021, Unblocked has finalized a US$10 million seed round to elevate the startup company to a post-money valuation of over US$90 million. The list of investors as well as the size of the round reflects confidence in Unblocked’s mission to leverage non-fungible tokens (NFTs) to connect fan communities both online and in the real world with some of the biggest music and entertainment brands.
Its prominent investor list encompasses Tiger Global, Penske Media Corp. (which owns media properties including Billboard, Rolling Stone and SXSW), Electric Feel Entertainment (whose management clients include Post Malone and Lil Baby), Primary Wave Music, Dapper Labs, Oaktree Capital Management, Marcy Venture Partners (Larry Marcus, Jay Brown, Jay-Z), BAM Ventures, B Capital, M13, Defy VC, GFT Ventures, Crosscut Ventures, 21 Shares, and Sandbox Studios. Individual investors include Shawn Mendes, Roham Gharegozlou (founder, Dapper Labs), George Ruan (founder, Honey), Farhad Mohit (founder, Flipagram, Shopzilla), Brian Thomas (founder, Clutter) and Andrew Gertler (music manager).
Julian Holguin, president of Billboard:
We had been searching for a partner to build our NFT project with, and once we met with Unblocked, it was clear that we had found a match. After hearing their vision for Web3 and learning more about their backgrounds, we knew they were the right partner. We can’t wait to roll out experiences that fully leverage our brand to foster authentic community and engagement. We’re excited to show everyone what we’ve been working on!
Unblocked is led by the minds behind such ventures as TikTok, Flipagram, Blockfolio and FTX. The company continues to grow its internal team, recently adding Linkin Park DJ Joe Hahn in a creative lead role.