Quick take:
- The funding will be used to accelerate the app’s development.
- The startup plans to grow the app beyond a token-gated community.
- The company hopes to make the app available for everyone in future.
NFT portfolio tracking app, Floor, has raised $8 million in seeding funding led by 6th Man Ventures, joined by B Capital, Worklife Ventures, Collab+Currency, Hannah Grey, Crypto.com Capital, Exponent Capital, Eberg Capital, along with dozens of strategic angels.
Launched in October 2021, the app is token-gated, meaning that people have to buy Floor tokens to use it. So far, it has about 3,500 token holders. Floor allows people to track their portfolios and add collections to their watch list so they can receive price alerts.
Other features of the app include private display modes, live activity for collections and multi-wallet support.
The startup was co-founded by Chris Maddern, formerly co-founder at Buttons and mobile lead at Venmo, Christine Brown, formerly Crypto COO at Robinhood, and Sid Dabral formerly co-founder at Button.
Maddern started building Floor based on his own experience of trying to understand the value and movement of NFTs. His thesis was simple: if he could help people understand their NFTs better, they’ll keep coming back and Floor can be the home for users’ NFTs. He is also co-founder of LinksDAO and sits on the Board of crypto research & media outlet, The Block.
Co-founder and COO Christine Brown joined Maddern shortly after she discovered Floor while falling down the Web3 rabbit hole. She holds a masters in Computer Science and has previously been a product manager, operator, and engineer at companies including Google and Udacity.
Sid Dabral and Madden co-founded Button in 2014 and have worked together for almost a decade. He joined Floor as CTO as the startup was about to scale its engineering, bringing over a decade of experience in building scaled production systems at Button and AKQA for big banks.
The seed funding will be used to accelerate the app’s development, grow it beyond a token-gated community and build new value for token holders by partnering with the Floor community. The founders hope to open the Floor platform for everyone and move towards their mission of making NFTs more accessible and understandable for all.
Floor is currently available on iOS via TestFlight. The alpha version for Android is coming soon and Android users can sign up for early access on the website.
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