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Venture capital firms Sanctor Capital and GBV lead the funding round
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The Manchester startup plans to use the funds to innovate and build an NFT platform that enables democratic access and use for artists and collectors.
KnownOrigin, a UK-based NFT platform, has raised $4.85 million in a Series A funding round, the startup said in a press release shared with CoinJournal.
Venture capital firms GBV and Sanctor Capital led the financing round, joined by D1 Ventures, Cultur3 Capital, LD Capital, MetaCartel Ventures DAO, and Pluto Digital. The round also received support from Future Arts, Yin Cao, and Colborn.
KnownOrigin (KO) is a pioneering NFT platform founded in 2018 by David Moore, Andy Gray, and James Morgan. Over the years the platform has supported a more democratic art ecosystem, allowing artists to showcase and sell digital works through a streamlined transaction process.
The Manchester-based startup said it will reinvest the new capital into the digital art NFT market to ensure creators continue to benefit from emerging technologies across Web3 and the Metaverse.
Partnerships include Netflix and Adidas
Co-founder James Morgan said the $4.85 million will help the startup grow, innovate, and build an ecosystem that benefits the wider NFT sector.
To reach that goal, the KnownOrigin team sought investment and expertise from leading crypto investors and blockchain innovators in the NFT space. KnownOrigin has also formed partnerships with well-known brands, including streaming giant Netflix, European sportswear leader Adidas, and US-based software company Adobe.
Commenting on the investment, Morgan said the aim is to create “a rapidly growing, permissionless, transparent ecosystem where creators and collectors can participate in cultural excellence and shared experiences.”
Bringing NFTs to the community
KnownOrigin hosts more than 5,000 creators on its platform and recorded over $30 million in sales in the past year alone, drawing collectors from around the world.
Beyond providing a supportive ecosystem for creators and NFT artists, KO has implemented a new royalty system that enables artists to receive royalties instantly after each sale.
The team emphasized that their work extends beyond platform participants. The startup has actively worked to bring NFTs into the Manchester community, staging events that showcase local and global NFT talent and help broaden public engagement with digital art.