Eminem, Sony Music, Part of $30 Million Investment in NFT Startup MakersPlace

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Photo by Albert L. Ortega via Getty Images

Fresh off launching his first NFT collectible, Eminem is establishing an even bigger presence in the digital marketplace.

Variety reports Em is among the angel investors who’ve contributed to the first round of funding for MakersPlace, a non-fungible token market for buying and selling digital artwork and other creations.

The San Francisco-based startup has secured $30 million in Series A financing thanks to several investors, including Coinbase Ventures, Sony Music Entertainment, Uncork Capital, Dragon Digital Assets and 9Yards Capital. Among the notable angel investors who participated in the round are Eminem, Paul Rosenberg, and Larry Fitzgerald.

“We see this fundraise as continued validation for our mission,” CEO Dannie Chu said in a statement. “We will continue to push boundaries and empower digital creators with better tools and services, while finding more ways to introduce digital art and NFTs to a mainstream collector audience.”

The news arrives nearly four months after Eminem announced the launch of Shady Con, a digital festival that gives fans the opportunity to own a Shady-approved NFT collectible. According to CryptoBriefing, Em’s collection reportedly pulled in $1.78 million on Nifty Gateway during its first weekend. One of the items, a video called Stans’ Revenge—which included a pair of Eminem’s exclusive Carhartt Air Jordan trainer collaboration—sold for an astounding $100,000.

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“I’ve been collecting since I was a kid, everything from comic books to baseball cards to toys, as well as every rap album on cassette I could get my hands on,” Eminem explained while announcing the launch. “Not much has changed for me as an adult … I’ve attempted to re-create some of those collections from that time in my life, and I know I’m not alone. I wanted to give this drop the same vibe of, ‘Oh, man I gotta get just that one or maybe even the whole set!’ It’s been a lot of fun coming up with ideas from my own collecting passion.”

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