www.banklesstimes.com
HomeNewsInclusive NFT marketplace Hot Drops raises $2.4M in seed round
Inclusive NFT marketplace Hot Drops raises $2.4M in seed round

Inclusive NFT marketplace Hot Drops raises $2.4M in seed round

Last updated 29th Jun 2022
Disclosure
  • Platform guarantees equitable access to blockchain and NFT technologies
  • An OnlyFans-like platform on NFTs meets NBA Top Shot
  • Hot Drops is shifting the paradigm of content being taken for free

Hot Drops, the first inclusive NFT marketplace that allows for the safe coexistence of mainstream and adult NFTs, is disrupting how creators and fans connect with next-gen experiences, limited-edition digital collectibles, community, and loyalty rewards.

It was founded by and for creators and celebrates freedom of speech and diversity, embraces legal creative expression, and guarantees equitable access to blockchain and NFT technologies. Today marks the launch of their newly designed platform at NFT.LA after procuring more than $2.4 million in seed funding, which was an oversubscribed round.

A unique platform

The best analogy for the utility and innovation of Hot Drops is an OnlyFans-like platform on NFTs meets NBA Top Shot, both which utilized similar patronage models for over $5 billion in sales last year alone. However, Hot Drops is revolutionary in the way it aims to solve issues that have long plagued the entertainment industries.

The platform is paving the way to be a leader in the protection of minors accessing adult content. It is ahead of the curve on the enforcement of regulations being passed in several countries around the world, through uniquely age-verified accounts to purchase or view content and enforces an invite-only acceptance program for established creators. This potentially reduces the likelihood of rug pulls.

Shifting the paradigm of free content

Hot Drops is shifting the paradigm of content being taken for free and rewarding loyal fans for purchasing content in a gamified experience. The platform will also be implementing additional features in privacy, anti-piracy, authentication, community building, and flexible payment options of fiat and major cryptocurrencies to tap into historically unbanked regions, over the coming weeks.

Later this year, Hot Drops will also be launching a two-sided marketplace to buy, sell, and rent creator content, monetizing brands, and enabling content creators to earn royalties on their content for the first time, even after they retire.

A powerhouse of stars

The first 12 creators on Hot Drops, called the Dirty Dozen, represent an aggregation of powerhouse adult stars consisting of Dani Daniels, Brandi Love, Cherie Deville, Alison Tyler, Elsa Jean, Lauren Phillips, Kenna James, Alex Coal, Reagan Foxx, Shyla Jennings, Joanna Angel, and Eva Lovia, with a combined social reach of more than 30 million followers.

Limited-time sale

Hot Drops’ Collector Access Pass is on sale now for $29.99 for a limited time and then the price will increase to $99.99. It allows purchasers early access to NFT drops, as well as a 10% discount on content for 1 year. The first collection of content creator drops will go on sale mid-April. Collections will then continue to drop each week from different creators on the Hot Drops platform.

Hot Drops is female-led and founded. It is backed by a team of industry leaders including former adult content creator Ashley Youdan. Advisors and investors have backgrounds from Playstation, Playboy, and Hollywood.

Daniela Kirova

Daniela Kirova

Daniela is a writer at Bankless Times, covering the latest news on the cryptocurrency market and blockchain industry. She has over 15 years of experience as a writer, having ghostwritten for several online publications in the financial sector.