Tiger Global backs NFT-focused RareCircles in $7.5m seed

RareCircles, a platform for building non-fungible token (NFT) memberships, has raised $7.5m from a seed funding round led by Tiger Global.

There was participation from White Star Capital, Alpaca, Hashed, Global Founders Capital, Crew Capital and Detroit Venture Partners. Also taking part were Packy McCormick, Joe McCann, Austin Rief, Mike Dudas, Julien Smith and Greg Isenberg.

RareCircles claims it is building a launchpad into the decentralised economy that is dedicated to those creating NFT membership experiences. The company is looking to simplify the process for minting and monetising NFTs and its solution offers a wide set of tools for customised a personalised experience powered blockchain.

RareCircles co-founder Ethan Song said, “We know there is a lot more to the equation than trading and collecting — NFTs are a powerful tool for transforming relationships between entrepreneurs and their communities. RareCircles is built to support this in any form they can dream of.”

In January this year, Mastercard partnered with Coinbase to allow people to purchase non fungible tokens (NFTs) with their debit and credit cards.

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