NFT App Floor Raises $8M in Series A Round

Floor, an app which aims to make non-fungible tokens (NFT) more accessible and understandable, has raised $8 million in a Series A round.

The round was led by 6th Man Ventures, the venture capital firm led by The Block founder Mike Dudas. Other participants in the round include B Capital, Worklife Ventures, Collab+Currency, Hannah Grey, Crypto.com, Exponent Capital and Eberg Capital, among others.

Launched in October 2021, Floor was co-founded by CEO Chris Maddern, who previously led the mobile business at Venmo and currently sits on the board of crypto publication The Block. He was later joined by Chief Technology Officer Siddhartha Dabral and Chief Operating Officer Christine Brown, who had left her previous post as Robinhood's (HOOD) Crypto COO to join the firm.

Floor offers NFT portfolio tracking, real-time price alerts, live activity for collections and multi-wallet support. Upcoming features include the ability to create an NFT watch list and estimated values to help guide buying and selling decisions.

"I'm a pretty savvy guy on crypto. I was trying to get into NF Ts, and it was still frankly incredibly hard," Maddern told CoinDesk in an interview. "As you get further and further in, it becomes more punishing and confusing because you have to understand not just the value of your assets but then the other utility of your assets, what's going on inside of each of those communities."