Indian NFT Site NFTically Announces Funding, Future Plans

NFT marketplace creator and B2B SaaS provider NFTically has confirmed seed funding of under $1 million from an investor group including Nazara Games exec Nitish Mittersain, Unacademy co-founder Gaurav Munjal, Udaan co-founder Sujeet Kumar, Bollywood actor Kunal Kapoor, and Coinbase CPO Surojit Chatterjee. The funds are earmarked for staffing, marketing, and product development. NFTically’s services can help clients build white label NFT stores and marketplaces while also providing the ability to introduce gaming and digital asset monetization capability on existing websites.

NFTically allows users and organizations from non-technical backgrounds to launch their own white-label NFT marketplace or store to mint, sell, and buy them. The company said it sees immense promise for sports federations, Bollywood movie studios and corporate India to adopt this in the coming months and added it remains keen to offer a clear strategy to support them.

“We are elated to garner this new round of funding and win the faith that our investors have demonstrated in NFTically,” founder and CEO Toshendra Sharma said. “Today not only celebrities, content creators, artists, influencers, gamers but now businesses are also more than ever looking to monetize their digital assets. Executives are seeing how NFTs are creating value for their business. Our aim is to empower everyone to create wealth with ease by launching their own NFT marketplace on a global stage.”

“While NFTs are still in the formative years, the expansive and bustling NFT ecosystem sees constant innovation and I am certain that NFTically has the right team and vision to capitalize on it as the ecosystem matures,” Mittersain added.

Expect more fundraising announcements in the future, Creago Advisors representative Jitendra Tatiya predicted.

“We are excited to see interest from global investors. NFTically is in the space which can absorb large investments for market penetration. We are already in process to raise a larger pre-Series A round and expand the business footprint.”

NFTically aims to work towards building user education and awareness projects while enabling them to reap optimum benefits of NFTs at the same time. Recently, the company said it sold Bollywood’s first NFT at six times the expected price. 

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