Shortly after launching his own debut NFT, colection Eminem has officially invested in non-fungible token startup MakersPlace.
Eminem is easily one of the biggest global superstars the music industry has ever known, and while he doesn't quite have the entrepreneurial rep that some of his fellow lyrical legends have (think JAY-Z and Nas), Slim Shady is no stranger to the art of investment. Now, Variety has reported that Em is angel investing in NFT startup company MakersPlace, a market designed to sell NFT artwork among other creations.
The San-Francisco-based company recently raised thirty-million dollars in investments, with Eminem, his manager Paul Rosenberg, DJ 3ALU, football player Larry Fitzgerald, Sony Music, Uncork Capital, Dragon Digital Assets, and 9Yards Capitaand more acting as key financial contributors.
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Eminem's investment arrives shortly after the launch of his first-ever run of NFT collectibles, as premiered during a recent ShadyCon. A report from Complex notes that Em's collection earned him $1.78 million on Nifty Gateway, where the auction was held. It's no wonder he decided to pursue the NFT field further, and it should be interesting to see how he leverages his icon status in MakersPlace's favor. In other words, don't be surprised to see a second ShadyCon in the near future.
In 2021, MakersPlace apparently "facilitated" over $100 million worth of transactions. "We see this fundraise as continued validation for our mission,” says MakersPlace CEO Daniel Chu. “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."
Congratulations to Eminem on his new investment, the latest step on his journey to join the exclusive club of hip-hop billionaires. Do you think we'll ever see Em secure a billion?