UK-based NFT start up KnownOrigin has raised $4.85 million in its recent Series A funding round. The round was co-led by crypto venture capital firms GBV and Sanctor Capital.
In addition to its duo of leaders, the round also saw involvement from the likes of VC firms D1 Ventures, MetaCartel Ventures, LD Capital and Pluto Digital Media, as well as contributions from pseudo-anonymous investors Co1born, CaoArmand, FutureArt, Sats Moon, and the not-so-anonymous Dave Goode.
David Moore, the co-founder of KnownOrigin, has since spoken on how the company will leverage the new injection of funds: “We want to help digital creators monetise their craft. The funding will be reinvested into the business to further support artists in the space”.
KnownOrigin is known for democratising the art world by empowering artists with simpler transaction processes when selling NFTs to collectors around the world. Throughout the past year, it has generated more than $30 million in sales, which in turn, has led to the expansion of its collection of artisan collaborators as well as the formation of partnerships with the likes of Adidas, Netflix, and Adobe.
The company has also created a proficient new royalties’ system, which further ensures that its independent artists will instantly receive royalties each time their work is sold.