Hot Drops raises $2.4mn in seed funding

Mumbai, April 6 : NFT marketplace Hot Drops allows mainstream and adult NFTs to safely coexist on the same platform on Wednesday announced the launch of their platform at NFT.LA, after procuring more than $2.4 million in seed funding, which was an oversubscribed round. Lead investors and advisors include Transform Ventures founder Michael Terpin who has worked with over 200 Blockchain PR clients and David Jensen, who founded and led EY’s Global Innovation and Digital Business team through a period of exponential growth. Other advisors and investors have backgrounds from Playstation, Playboy, and Hollywood. Hot Drops seeks to solve issues that have long plagued the entertainment industries, with the platform paving the way to be a leader in the protection of minors accessing adult content. “It is ahead of the curve on the enforcement of regulations being passed in several countries around the world, through quely age-verified accounts to purchase or view content and enforces an invite-only acceptance program for established creators. “Hot Drops is shifting the paradigm of content being taken for free and rewarding loyal fans for purchasing content in a gamified experience,” a statement issued by Hot Drops stated. “The platform will also be implementing additional features in privacy, anti-piracy, authentication, comm ty building, and flexible payment options of fiat and major cryptocurrencies to tap into historically unbanked regions, over the coming weeks,” it added. Hot Drops is backed by a team of industry leaders including former content creator Ashley Youdan, who pivoted her career into computer science and entrepreneurship. AAA

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