Autograph — the nonfungible token (NFT) platform co-founded by popular American football quarterback Tom Brady has announced the successful completion of a $170 million funding round.
Autograph To Use Fund To Scale Its NFT Technology
According to a Wednesday announcement by Autograph, the Series B round was co-led by Venture Capital (VC) firm Kleiner Perkin and Andreessen Horowitz — otherwise known as a16z.
The round also had in participation, San Francisco-based venture firm 01A, and other private crypto investors like Nicole Quinn of Lightspeed Venture Partners.
Meanwhile, according to the company, the fund raised will be mainly channeled into scaling its NFT technology. However, the remaining part of the fund will be diverted towards a series of futuristic collaborations, even as the firm looks to expand its user base.
Interestingly, it wasn’t just an investment deal between Autograph and investing partners. The collaboration also saw a16z general partner Arianna Simpson, Haun and Kleiner Perkins partner Ilya Fushman joining the board of directors at the firm.
Additionally, the partnership also saw Chris Dixon — another a16z general partner joining the firm’s board of advisors.
With these new additions tools team, Autograph will be hoping to help bolster mainstream adoption of NFTs and cryptocurrencies in general.
Not New To Huge Partnerships
Interestingly, Autograph might have had a series of partnerships in the past but maybe not as much a big deal as this.
Since launching in August last year, the platform has teamed up with major sports and entertainment brands, mostly for NFT collections.
Its NFT marketplace for instance, features NFTs from female tennis superstar Naomi Osaka and skateboarder Tony Hawk, among others.
But it is worthy to note that Andreessen Horowitz has been responsible for backing some of the biggest funding rounds seen in blockchain projects.
And this just-concluded Series B funding round, might be all Autograph needs in order to fast-track its expansion plans.