Aiming to become the ‘Shopify for NFTs’, Berlin-based technology company FUEL has raised €1.5m. The pre-seed round saw the participation of investors, including NYC-based FintechCollective, London-based Seedcamp and Notion Capital with their pre-seed vehicle, Pioneers. Angels and experts, including Bitstamp CTO David Osojnik, Gumtree co-founder Michael Pennington and Indeed founder Paul Forster also joined the round.
Talking about the potential of the segment, Stefan Tietze and Patrice Deckert, co-founders, FUEL, said: “Last year, $25 billion worth of NFTs were traded globally, up from $95 million in 2020, and artists like Steve Aoki, Nas, Grimes, and brands like Lamborghini entered the space. The art establishment also sees value in the space, with brokers like Sotheby’s entering the market.”