Quick take:
- Collectibles.com has completed a $5 million funding round led by Blockchange Ventures.
- The fundraising also attracted participation from GFR Fund, Peter Thiel and Blockwall Capital.
- The company will use the funds to accelerate the development of its web3 collector community and marketplace ahead of launch.
Collectibles.com has announced a $5 million funding round led by Blockchange Ventures. The seed round also attracted participation from leading web3 investment companies and angel investors including GFR Fund, Peter Thiel and Blockwall Capital.
Serial entrepreneurs, technologies and celebrities also joining the round include Adam Jackson, CEO Braintrust; Sean Cohan, former Chief Growth Officer, Nielsen; Trevor Traina, CEO Kresus & respected collector; Vinny Lingham, CEO Waitroom, Shark Tank SA; and Hollywood actor & collector, Orlando Bloom.
Collectibles.com is building a web3 community and marketplace to capitalise on the $500 billion collectibles market, connecting a diverse range of users on the blockchain. The company currently focuses on trading cards but wants to use the new funding to expand its offerings to other collectibles verticals ahead of its anticipated launch.
Collectibbles.com will utilise user activity to reward users based on their contribution to the community, rather than the more popular staking mechanism used by web3 startups.
Commenting on the fundraising, Collectibles.com Co-Founder and CEO Alex Ivanov said: “Our work to date has demonstrated the value of — and demand for — innovation by collectors, making the expansion into other collectibles verticals a natural next step. By combining the power of the collectibles community with the promising capabilities of Web3 technology, we can fundamentally rethink how people buy, sell, trade and manage anything they collect.”
The company launched as a proof-of-concept in 2021 and has since grown to more than 250,000 registered users with collectors now adding tens of thousands of items per day, currently valued at over $2 billion of cards under management.
The upcoming new launch— targeted for Fall 2023 aims to take Collectibles.com to the next level expanding into more categories including comic books, coins, stamps, memorabilia and more.
Ken Seiff, Managing Partner of Blockchange Ventures commented: “We believe that blockchain technology will radically alter how marketplaces will grow in the future—especially those with pre-existing communities. Adding the economic layer of a blockchain to a social network will catalyze growth & commerce in new and novel ways.”
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