The Flip NFT project closed a $6.5 million seed round led by Distributed Global and Chapter One.
The round also included CMS Holdings, NFT artist PplPleasr (Emily Young), Keyboard Monkey, DeeZe, Larry Cermak of The Block, and more.
Ability to navigate NFT marketplaces on various blockchains
The startup will use the funding received to expand the team and launch the platform.
Flip will provide users with the ability to navigate NFT marketplaces on various blockchains and second-tier solutions for buying tokens. In particular, the collections themselves, minimum prices and trading volumes will be available.
According to the firm’s co-founder and Brian Krogsgard, OpenSea’s current dominance of 95% market share will wane as similar platforms from Coinbase, FTX and others become popular.
“New users will get the ‘right place’ to ‘shop’. We will combine these sites,” Krogsgard explained.
Flip will also allow users to track an NFT portfolio. The launch is expected in late January – early February.
Recall that at the beginning of 2022, the LooksRare NFT marketplace was launched. Its founders carried out a “vampire attack” on the leading NFT marketplace in terms of trading volumes, OpenSea.