Momento NFT Emerges From Stealth to Bring NFTs to the Creator Economy With a $4M Seed Equity Round Led by Cadenza Ventures, With Participation From FTX, Animoca, & Mark Pincus
Momento NFT’s Direct-to-Fan NFT Platform Transforms Creator and Community Engagement
Momento NFT this morning announced its exit from stealth with a seed round worth $4 million. Since being founded six months ago, Momento NFT has raised over $6 million to date and partnered with some of the biggest blockchains globally.
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Momento NFT is the first direct-to-fan non-fungible-token (NFT) social network that allows fans and collectors to own the best moments from content creators. Momento was founded for a single purpose: to provide content creators the opportunity and ability to monetize their work and ensure their fans are able to own a piece of the moments they create.
Cadenza Ventures led the company’s Seed Equity Round, which also saw participation from FTX, Animoca Brands, and Mark Pincus among other prominent venture capital firms.
“We are excited about our investment in Momento NFT and believe the Momento coin (MMTO) will be a huge gamechanger for the creator economy and their followers,” said Brian Lee, Venture Partner at FTX.com.
Until Momento NFT came along, artists had to depend on traditional social media platforms both to promote their talents and earn money. However, to make money on social media, an artist typically needs a massive number of views and likes. And even when an artist reaches a huge level of followers, the platform can increase the number of subscribers required in a partnership. To many artists, it feels like the goalposts keep moving. Often, artists end up making content for multiple social platforms, trying to raise interest on one platform to encourage fans to find them on another platform. The process can be exhausting without necessarily resulting in more earning power. By giving creators ownership and control over their content, those challenges are all gone.
“Allowing content creators to more seamlessly engage with their fans leveraging blockchain technology is a concept that we believe will see substantial growth in the coming years,” said Max Shapiro, Co-Founder and Managing Partner at Cadenza Ventures.
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