JAY-Z Enters the NFT World in $19 Million USD Funding Round for Platform Bitski
The hip-hop mogul simultaneously files for a new trademark for a new entertainment production company.
JAY-Z is making waves in the business world just a week after announcing the sale of TIDAL to Jack Dorsey’s Square Inc.
Hov’s Marcy Venture Partners has officially backed NFT marketplace Bitski. Bitski revealed that the JAY-Z’s company was amongst the backers who invested $19 million USD into the San Francisco-based startup, including Roc nation co-founder Jay Brown, Endeavor CEO Ari Amanuel, Troy Carter and 3LAU. Bitski’s new investors also include other YouTuber MrBeast, tennis legend Serena Williams and many other senior executives across TikTok, Twitter and Snapchat. The news arrives shortly after Bitski’s recent partnership with adidas to launch No. 1 NFL draft pick Trevor Lawrence’s NFT collection.
A day after the announcement regarding JAY-Z’s entry into the NFT world, HOV’s other company, S. Carter Enterprises, reportedly filed to trademark “2/J” for the purposes of “entertainment services in the nature of creation, development, and production” of television programming, TV series, movies and similar projects.”
It’s currently still too early to tell what JAY-Z has in mind with the latest big business moves.
Also worth noting: Andreessen Horowitz led a $19 million round announced on Thursday for @bitski, a company that TechCrunch likens to the Shopify of NFTs. Other investors include Jay Z and Serena Williams.
— The Fashion Law (@TheFashionLaw) May 6, 2021
In case you missed it, Kanye West’s one-off Goyard “robot face” backpack recently reappeared on the resale market selling for $55,000 USD.
