CryptoSlam Closes $9 Million In Strategic Seed Funding

By January 14, 2022The Sandbox
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  • CryptoSlam recently announced it raised $9 million in a strategic seed funding round. These are the details.

CryptoSlam — a leading provider of data and transparency for the NFT industry — recently announced it closed an oversubscribed $9 million capital raise. The strategic seed funding round was led by Animoca Brands, the company driving digital property rights via NFTs and gaming to build the open metaverse, with participation from CryptoSlam pre-seed investors Mark Cuban and Sound Ventures, the venture capital firm founded by Ashton Kutcher and Guy Oseary.

Other investors in this round included OKEx Blockdream Ventures, the venture arm of cryptocurrency exchange OKEx, blockchain protocols Binance Smart Chain and Polygon, KCRise Fund, PKO Investments, Stocktwits, Forte, Twenty5Twenty, and Red Beard Ventures.

The funding round also saw participation from a long list of prominent founders including Reid Hoffman (LinkedIn), Mark Pincus (Zynga), Nigel Eccles (FanDuel), James Park (Fitbit), Randall Kaplan (Akamai Technologies), Alexandra Wilkis Wilson (Gilt.com), Kun Gao (Crunchyroll), Chris Wang (Playdom), Dennis Fong (Xfire), Greg Tseng (Tagged), Holly Liu (Kabam), Sebastien Borget (The Sandbox), and co-founders of Rotten Tomatoes, Stephen Wang and Patrick Lee.

This funding round came on the heels of a significant year of growth for the company as the global NFT landscape exploded in volume and expanded across multiple blockchains and use cases. And thousands of NFT enthusiasts, speculators, and market watchers visit CryptoSlam each day to analyze NFT market trends and conduct deep analytics on a rapidly growing list of NFT collections.

CryptoSlam’s NFT collection rankings have been recognized as a leading cross-blockchain indicator of interest in NFT collections, much like CoinMarketCap is for cryptocurrencies.

The CryptoSlam team has grown to more than 20 team members including several key executive hires (assisted by the global executive recruitment firm, Rosenzweig & Company). And the investment will be used to support an aggressive hiring plan, expand the development of the CryptoSlam platform for new and existing blockchains, and support the launch of several new products under the CryptoSlam brand such as an enterprise NFT data API, allowing developers to build on top of the platform.

KEY QUOTES:

“NFTs entered the mainstream this past year and are here to stay. Since 2018, we’ve been laying the groundwork to provide ultimate transparency for the NFT industry, and this strategic capital raise marks a key milestone for us as we continue to grow along with it. We’re blessed to have Animoca Brands, Mark Cuban, and an incredible list of other strategic investors aligned with us as we take this next step forward.”

— Randy Wasinger, Founder and CEO of CryptoSlam

“Cross-chain aggregation and analysis of NFT data are services essential to the development of the open metaverse, and CryptoSlam has clearly established itself as a leader in this area. We’re thrilled to support this talented team.”

— Yat Siu, executive chairman and co-founder of Animoca Brands

“I’m excited about what CryptoSlam has accomplished to be the de facto source of information and pricing on all things NFT.”

— Mark Cuban

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