Why shouldn’t buying NFTs be as easy as buying a t-shirt or in-game items with my credit card? Why shouldn’t selling one as part of a brand be as easy as setting up a Shopify store?
NFTs represent one of the most exciting evolutions of the internet. Over the last several months, millions of consumers have been introduced to NFTs and the entirely new ownership structures they unlock for digital goods. NFTs represent a key building block of the metaverse. (If you are new to NFTs, check out our NFT Canon and explainer podcast All About NFTs.)
Though the ecosystem has come a long way in a very short time, it still takes a fair amount of work for brands to participate. The list of things for brands to figure out and build is long: building custom storefront experiences and payment mechanisms, helping customers set up various wallets and crypto transfers, handling the web traffic spikes that often follow popular NFT drops.
Enter Bitski. Bitski lets creators, brands, and platforms easily create, sell, and purchase NFTs — no crypto deep dive required. How do they do this? For starters, they’ve built:
- Storefronts on Bitski, so creators can create and sell NFTs directly to their audience
- A digital wallet designed for mass market adoption, making it easy to buy NFTs with just your credit card
- A developer platform for custom integrations and storefront experiences
Consider how a platform like Shopify has empowered any merchant, be it a small store or a large brand, to easily set up a commerce experience online. Bitski brings the same leverage to anyone wanting to sell NFTs online. Bitski also gives these brands and creators the option to sell their NFTs through their own existing channels. Already, Bitski manages over 10M requests per day to over 300 unique apps built on their infrastructure.
The founding team represents exactly what we look for. CEO Donnie Dinch and co-founder Julian Tescher are multi-time founders who have spent years deep in crypto. At a16z, we often talk about “earned secrets” that come from deep work in a space. Donnie and Julian have that in spades. Underpinning the seamless end-user experience is years of engineering work dedicated to building a secure and scalable infrastructure. From setting up their own servers to building out secure wallets using hardware security modules, Bitski has already solved some tough problems and their learnings uniquely position them to keep delivering on their bold vision. (Intrigued? They’re hiring engineers!)
I’m thrilled to announce that a16z is leading Bitski’s $19M Series A and that I will be joining their board. We have a number of investments focusing on NFTs and the metaverse — from Dapper Labs to OpenSea. It only stands to reason we invest in the infrastructure that makes NFTs accessible. If you’re interested in helping make the metaverse happen or solving hard technical problems, go check out Bitski!
The views expressed here are those of the individual AH Capital Management, L.L.C. (“a16z”) personnel quoted and are not the views of a16z or its affiliates. Certain information contained in here has been obtained from third-party sources, including from portfolio companies of funds managed by a16z. While taken from sources believed to be reliable, a16z has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. In addition, this content may include third-party advertisements; a16z has not reviewed such advertisements and does not endorse any advertising content contained therein.
This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors, and may not under any circumstances be relied upon when making a decision to invest in any fund managed by a16z. (An offering to invest in an a16z fund will be made only by the private placement memorandum, subscription agreement, and other relevant documentation of any such fund and should be read in their entirety.) Any investments or portfolio companies mentioned, referred to, or described are not representative of all investments in vehicles managed by a16z, and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results. A list of investments made by funds managed by Andreessen Horowitz (excluding investments for which the issuer has not provided permission for a16z to disclose publicly as well as unannounced investments in publicly traded digital assets) is available at https://a16z.com/investments/.
Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Please see https://a16z.com/disclosures for additional important information.