Why we invested in NFTically

Jun 15, 2022

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5 min read

Portfolio

We are excited to back Founder & CEO Toshendra Sharma and the founding team in a Pre-Series A investment round for NFTically, a Web3 e-commerce platform offering white-label no-code NFT Marketplace, Metaverse, and APIs to empower businesses to start their Digital E-Commerce, NFT, and Metaverse journey.

Toshendra Sharma is one of the first Blockchain entrepreneurs in India, with successful early startups like Blockchain Council and RecordsKeeper.

We believe that with a strong background in Computer Science and Blockchain Technology, Toshendra can be a game changer in the Web3 e-commerce space, offering unique values with NFTically.

NFTs have seen steep growth in popularity and use cases recently. The demand for NFTs continues to rise as they offer various benefits to creators, brands, and fans alike.

In 2021, the total value of all NFT transactions jumped by more than 20,000% globally. This multi-billion-dollar market is predicted to further expand in the coming years.

The crypto space is also anticipating a shift to more utility-driven use cases for NFTs, going beyond the sole ownership of 'passive' assets. Primary applications in this area are soon expected around gaming, sports, and metaverse.

Generally, Web3 users want more control over their e-commerce offerings. There will be an increasing demand for NFT marketplaces where they can own their user’s data and fully customize the user experience.

This is why NFTically has huge potential to become the “Shopify for NFTs” in the evolving Web3 space.

The platform particularly appeals to businesses who can’t afford or don’t want to build the entire tech-stack in-house, as it allows digital creators like brands, enterprises, gamers, or musicians to launch their own white-label NFT marketplace with minimal technical skills.

Customers can choose between multiple blockchains, set royalties, and commissions, add members to their platform, and integrate third-party applications to boost engagement with their audience in a hassle-free manner.

Some of the key features of NFTically include White-label Storefront, Metaverse Storefront, Tools Kits & APIs, NFT Utilities, and NFT Distribution.

In the long term, the company wants to transition into a full-stack, white-label SaaS platform for metaverse storefronts over time.

We couldn’t be more excited to back such a promising project by a talented founding team. We look forward to seeing more development and breakthroughs from NFTically in the near future.

https://www.nftically.com/

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