True Global pumps $1.3m into startup that aims to be YC of NFTs

Forza Ikonia, a wallet-less non-fungible token (NFT) platform, has raised US$1.25 million from True Global Ventures. It aims to take NFTs to the mass market with a smooth first-buyer experience using Polygon, an eco-friendly blockchain.

Photo credit: 123rf.com

Forza Ikonia’s goal is to become the Y Combinator of NFTs, releasing at least one new NFT project per month, it said in a statement.

The startup previously came up with the concept of emotion NFTs to illustrate the emotional experiences of athletes during important moments. Forza Ikonia is currently developing other projects that involve esports teams and influencers.

The company said that it has created a frictionless first-buyer experience with card payments that’s more than five times quicker than other NFT marketplaces such as OpenSea and Rarible.

In September, True Global Ventures closed its 4 Plus Fund at over US$100 million. The fund is dedicated to blockchain companies, primarily in late-stage series B and C across four verticals: entertainment, infrastructure, financial services, and data analytics and AI. The typical size of each investment ranges from US$3 million to US$10 million.

See also: Explaining Axie Infinity and its mercurial rise

The NFT market has experienced a meteoric rise with over 10 million tokens sold to date, according to the investment firm.

”We strongly believe in the NFT market and have already many investments in the area,” said Dusan Stojanovic, founder and director of True Global Ventures.