- Boss Beauties plans to turn the NFT collection into media IP after completing a $4.4 million capital raise.
- The fundraising was led by Brit Morin and Randi Zuckerberg’s Offline Ventures.
- Serena Williams’s Serena Ventures and Anu Duggal’s Female Founders Fund also participated in the seed round.
Boss Beauties has raised $4.4 million in a seed round led by Brit Morin and Randi Zuckerberg’s Offline Ventures. The women empowerment-focused non-fungible token (NFT) collection said t will use the funds to convert the collection into media intellectual property (IP).
The funding round also attracted the participation of Serena Williams’s Serena Ventures and Anu Duggal’s Female Founders Fund.
According to Fortune, Boss Beauties’ latest funding round values the NFT collection at about $30 million. Commenting on the fundraising, Morin, who co-founded the women’s crypto community BFF said “building authentic brands and communities in Web3 today will be the multi-billion-dollar, multi-channel brands of tomorrow.”
Boss Beauties is a collection of 10,000 digital portraits of women, which the company is turning into media IP. The team behind the project is now working on options to monetize the portraits.
The collection has garnered a cumulative transaction volume of 14.6k ETH, an equivalent of $44.75 million as of this writing. It currently has about 5.6k owners, while the floor price is pinned at 1.1 ETH ($3,371).
The global advertising agency Wieden+Kennedy, which participated in the seed round pitched in with a few ideas that the project could pursue to monetise Boss Beauties including developing an animated TV series, brand deals, licensing partnerships, and toys.
Boss Beauties founder Lisa Mayer said brands had already started to reach out to the team to “feature the IP and leverage it together.”
Among its most recent partnerships includes a deal closed last month with Mattel to launch a collection of Barbie-inspired NFTs.
The companies have tapped into some of the most influential people featuring avatars based on Olympic athletes, chefs, and astronauts, among others for the initial collection.
Boss Beatties has become a voice for women in the male-dominated NFT space by visually representing them to ensure they can also benefit from the NFT and metaverse craze.
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