One of the biggest challenges associated with NFT marketplaces is long and complicated signup processes that require verifications and integrations in order for collectors and creators to get up and running. A number of new marketplaces are promising to simplify and streamline the experience. Bubblehouse is a social NFT marketplace that allows users to immediately transact without complicated wallet integrations. Users automatically get a wallet and can pay for transactions using their credit card or existing crypto without having to worry about conversions. Creators can mint NFTs with a few clicks. Creations can also be timed to limited editions tied to offline events, bridging the metaverse with the real world; this has been popular with the company’s partnerships in the hospitality and fashion industries. Currently, Bubblehouse NFTs can be transacted in ETH or Polygon, with the latter resulting in significant energy savings and therefore reduced fees. At the platform’s core is its social discovery function, where collectors can see NFTs owned by celebrities, athletes, influencers, and also their friends as well as display their own portfolios publicly.
AlleyWatch caught up with Bubblehouse Cofounder Rohan Sinha to learn more about the business, the company’s strategic plans, latest round of funding, which brings the total funding raised to $13M, and much, much more…
Who were your investors and how much did you raise?
Seed led by CASSIUS Family, joined by Third Kind VC, SV Angel, Kima Ventures, Watertower Ventures, and Ocho.
Tell us about the product or service that Bubblehouse offers.
NFT Marketplace and NFT Collection IP
What inspired the start of Bubblehouse?
To build a platform that unlocked the potential in digital ownership for creators and collectors. We want to take the NFT experience and make it accessible and valuable for all. Providing a platform where creators and collectors can easily enter Web 3 is key to this broader adoption. We want this new world to be fun, artistic, lucrative, social, and more.
Premium NFT collections, more optimized commission structure for collectors/investors, accessibility, and ease of use of the platform to the mainstream.
What market does Bubblehouse target and how big is it?
Markets primarily to the crypto community right now, big premium NFT collections launching in June, over 100K users right now just from beta version of marketplace.
What’s your business model?
Platform fee on transactions,
What are your post-COVID office plans??
What was the funding process like?
Was great meeting some very helpful and knowledgeable investors including Steve Aoki, David Guetta, SV Angel, Third Kind VC, Cassius, Kima Ventures, Watertower Ventures, Ocho Capital, GoPuff + Moonpay + Highsnobiety + Sweetgreen founders, and more.
What are the biggest challenges that you faced while raising capital?
What factors about your business led your investors to write the check?
The potential of the marketplace to become the leader in where digital assets on the blockchain are created and traded.
What are the milestones you plan to achieve in the next six months?
Launching premium IP in the NFT space, larger public launch of marketplace moving out of beta.
What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?
Get in touch with a lot of VCs to find one that’s the right fit, and iterate on your storytelling too.
Where do you see the company going now over the near term?
We want to launch an NFT marketplace that collectors love to invest on, and premium NFT collections they love to invest in.
What’s your favorite outdoor dining restaurant in NYC?