The funds will be used to build best-in-class products, as well as marketing and team building.
New Delhi : Non-fungible Token (NFT) derivative startup Bliv.Club on Monday announced that it has raised undisclosed Pre-seed funding by Sandeep Nailwal, Co-founder of Blockchain Scalability Platform Polygon. Serial entrepreneurs Vikas Singh, Abhishek Kumar Gupta, and Mohammed Sirajuddin founded the startup in 2021. They became friends because of their shared interest in Web3 and have been discussing the NFT ecosystem for a time. Bliv.Club is the result of combining their various capabilities in technology, strategy, and outreach.
NFTs are unique virtual tokens on Blockchain infrastructure that represent ownership, proof-of-existence, and allow traceability of any digital or non-digital item. In fact, the market size of NFTs reached $22 billion in 2021. This is an exponential rise when compared to the global market size of $100m in 2020. Moreover, the base market cap of the top 100 NFTs ever issued – a measure of their joint value – is $16.7 billion.
However, the NFT marketplace is complex to navigate for people with limited technical knowledge. Bliv.Club is a platform that aims to diminish this barrier of entry via various new-age instruments as well as facilitate liquidity into the NFT ecosystem via derivatives. The platform will draw a significant user base once it is launched. Bliv will offer a derivatives market, allowing the average person to participate in the NFT market with a small ticket size.
“Bliv is extending the ambit of the NFT ecosystem. It is allowing a common person to get the exposure of a complex market in a much more easy and meaningful way,” said Sandeep Nailwal, Co-founder, Ploygon.
“Our core objective at Bliv is to increase participation of masses in NFT Ecosystem via seamless, high tech, easy to use new-age instruments and we could not have had a more relevant person than Sandeep as our first investor, who is one of the most respected persons globally in the Web 3 ecosystem. We will benefit highly from his insights, experience, and network” mentioned Vikas Singh, Co-Founder Bliv.Club.
Bliv.Club is already in talks with a number of investors in order to raise a larger round in the near future. They plan to build an ecosystem around NFT that will allow retail investments in the field to be more fluid, so addressing and solving the bigger liquidity issue.