NFT Platform Nameless Raises $15M, Bringing Valuation to $75M

Nameless, a non-fungible token (NFT) minting platform, raised $15 million in seed funding, the company announced on Thursday. The capital will go towards development resources, marketing and building out a partner program, founder Jimmy McNelis told Blockworks in an interview.

“NFTs are revolutionizing digital ownership on a global scale. Whether it’s a single NFT drop or the creation of an entire marketplace, our technology makes things easy, cost-effective and secure,” McNelis, who previously worked at Google, said. 

According to McNelis, nameless’ platform allows users “to incorporate NFTs into existing web properties” and “enables [the crypto assets] to be adopted by existing developers and technology providers.”

The new investment boosts the project’s valuation up to approximately $75 million. Led by Mechanism Capital, other participants in the funding round include Delphi Digital, Velvet Sea Ventures, Red Beard Ventures, Fenbushi Capital, Third Prime, Cultur3 Capital, Flamingo DAO, Michael Rubin, Spartan Group, D64 Ventures, The LAO and Wursta Ventures.

“[Nameless is] building out technology that identifies the need for creators’ enterprises, who are just getting up to speed on the space to have a technology stack that makes it easier for them to create NFTs,” Marc Weinstein, partner at Mechanism Capital, told Blockworks.

Nft42, nameless’ parent company, secured $3.5 million in funding back in February. Backers include Gary Vaynerchuck’s VaynerFund, Sound Ventures, Mark Cuban, Marc Benioff, Shaun Neff, Guy Oseary, Michael Rapino and Outlier Venture. 

“We expect the nascent NFT industry to grow into a multi-hundred billion dollar market that disrupts many others along the way including art, gaming, music, fashion and entertainment,” Weinstein added.

Nameless’ platform plans on publicly launching early next year. It is currently in beta at nameless.io.