NFT-focused startup Hyy.pe Raises

NFT communities’ social platform On Tuesday, Hyy.pe announced that it had raised $2 million in its newest investment round, which was headed by Elevation Capital. Electric Capital has previously invested $1.5 million in the Bengaluru-based business.

The round included angel investors such as Ryan Adams and David Hoffman (Founders of Bankless), Santiago Roel Santos (Ro Capital), Matt Kalish (Co-founder of DraftKings), Cuy Sheffield (Head of Crypto, Visa), and Farid Ahsan (Co-founder of ShareChat).

The startup plans to launch with 13 collections initially — including CryptoPunks, Bored Apes, Cool Cats, Avastars, Loot, and Punk Comics — before expanding to include all the collections for everyone.

Commenting on the funding, Supriyo Roy, Co-founder, Hyy.pe, said, “With Hyy.pe, a user can curate their NFT collection to serve as a main medium of self-expression. It pushes forward the idea that collectively the media you own, in the form of NFTs, can establish your individuality on the internet and help you connect deeper with communities. Hyy.pe wants to be a cohesive space for a million communities.

Speaking on the investment, Vaas Bhaskar, Principal, Elevation Capital, said, “NFTs are very inherently social. The value of NFT is bolstered by the stories, interactions, derivatives, and provenance around them. We are at the cusp of new forms of social interactions and community formation that NFTs will enable. We are thrilled to partner with Supriyo and Scott to build such a social network.”

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