Inclusive NFT marketplace Hot Drops raises $2.4M in seed round

April 6, 2022

By Murtuza Merchant

NFT marketplace Hot Drops that allows mainstream and adult NFTs to safely coexist on the same platform today announced the launch of their platform at NFT.LA, after procuring more than $2.4 million in seed funding, which was an oversubscribed round.

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.

“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, community building, and flexible payment options of fiat and major cryptocurrencies to tap into historically unbanked regions, over the coming weeks,” it added.

Later this year, Hot Drops will also be launching a two-sided marketplace to buy, sell, and rent creator content, monetizing brands and enabling content creators to earn royalties on their content for the first time, even after they retire.

The first 12 creators on Hot Drops, called the Dirty Dozen, represent an aggregation of stars like Dani Daniels, Brandi Love, Cherie Deville, Alison Tyler, Elsa Jean, Lauren Phillips, Kenna James, Alex Coal, Reagan Foxx, Shyla Jennings, Joanna Angel, and Eva Lovia, with a combined social reach of more than 30 million followers.

The first collection of content creator drops will go on sale in mid-April. Collections will then continue to drop each week from different creators on the Hot Drops platform.

 


About the author

Murtuza Merchant is a senior journalist and avid follower of blockchain and cryptocurrencies.

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