NFT platform Zora announced on Thursday that it has completed a $50 million seed round at a valuation of $600 million, led by Haun Ventures, with participation from Coinbase Ventures and Kindred Ventures.
Haun Ventures, the Web3 venture capital firm founded by Andreessen Horowitz (a16z) general partner Katie Haun, made its first capital injection.
Founded in 2020 by three Coinbase veterans, Zora is focused on building an open-source protocol that allows anyone to build an NFT marketplace. Unlike OpenSea or Coinbase’s NFT marketplace, the company does not use a centralized database to manage NFTs, but an open on-chain protocol. Zora also has its own decentralized autonomous organization (DAO) ZoraDAO.