NFTY Markets develops consumer packaged goods (CPG) brands in, and facilitates CPG producers to enter, the Web3 and blockchain space.
LOS ANGELES, May 24, 2022 – Draper Goren Holm announced today that NFTY Markets has become one of the firm’s newest portfolio companies. The SoCal Venture studio and fund, led by Tim Draper, Alon Goren, and Josef Holm, has invested in NFTY Markets, a blockchain company that develops in-house brands powered by Web3 and curates toolkits to onboard existing CPG brands into the Web3 space.
“NFTY Markets is ushering in a new era of Web3 adoption by building tools to bridge the physical and digital worlds,” said Draper Goren Holm founding partner Alon Goren, “We are beyond excited to have NFTY Markets join our family of companies and look forward to working alongside the team as they bring their vision to life.”
NFTY Markets has three focus areas: 1) developing and incubating its own in-house CPG brands, 2) partnering with niche and established brands to platform their products on NFTY’s marketplace, and 3) licensing its technology to facilitate physical goods producers to incorporate Web3 capabilities into their established product lines. Through the launch of its first in-house venture, SpiritPunks, NFTY Markets is showcasing how Web3 tools can be adopted and implemented by CPG brands to create new types of value for companies and consumers.
“With Draper Goren Holm’s support we will bridge the worlds of consumer packaged goods and Web3,” said Michael Evans, COO and Co-founder of NFTY Markets. “Through in-house brands and brand partnerships, we will demonstrate how blockchain can be adopted into new and existing product lines for CPG companies to create entirely new types of value.”
The SpiritPunks project is a first of its kind distilled spirits offering inspired by the blockchain community and enabled by blockchain technology. The project aims to foster a community of spirits enthusiasts by creating an exclusive rollout of SpiritPunks NFTs that provide the holder access to a luxury marketplace of cause-directed and premium products.
Products on the SpiritPunks marketplace are developed to create direct benefit for specific nonprofit partners. The project aims to redirect consumer attention and intention around consumption and do so by leveraging the innovation made possible by blockchain and NFTs. By platforming cause-directed premium physical products, partnered with nonprofits from inception, SpiritPunks intends to change the direction of consumption entirely. A significant portion of each initial sale on the platform goes to a partnered nonprofit as well as the majority of all secondary art sale royalties in perpetuity.