Flip, an NFT marketplace aggregator, raises $6.5 million in seed funding

NFT-project Flip closed a seed round of $6.5 million. It was led by Distributed Global and Chapter One.

We’re excited to have many new amazing partners who have invested in our seed round, as we continue to prepare our public launch of Flip.

We’re creating the smartest way to interact with NFTs, with a first class user experience. https://t.co/qCpgSvlymx

— Flip (@FlipMetrics) January 10, 2022

CMS Holdings also participated in the round, NFT artist PplPleasr (Emily Yang), Keyboard Monkey, DeeZe, Larry Chermak of The Block, and others.

The funding will be used to expand the team and launch the platform.

Flip will allow users to navigate NFT marketplaces across multiple blockchains and layer-2 solutions for purchasing tokens. In particular, users will have access to the collections themselves, minimum prices and trading volumes.

According to the company’s co-founder, Bryan Krogsgaard, OpenSea’s current dominance with a 95% market share will weaken as similar platforms from Coinbase, FTX and others gain popularity.

“New users will have a ‘proper place’ to ‘shop’. We will unite these marketplaces.”, said Krogsgaard.

Launch is expected in late January–early February.

Earlier in 2022, the launch of the NFT marketplace LooksRare took place. Its founders carried out a ‘vampire attack’ on the leading by trading volume NFT marketplace OpenSea.

Earlier, OpenSea raised $300 million at a valuation of $13.3 billion.

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