Haun Ventures leads $50M round in NFT startup Zora Labs

The NFT marketplace continues to grow, but the majority of volume is still moving through the centralized halls of OpenSea, leaving tHe VCs eager to find new channels.

The first deal in NFT startup Zora Labs was led by Haun Ventures. $600 million is the value of the funding round.

Artists and developers can use the protocol to create NFT marketplaces and collections. Most of the NFTs sold on its protocol are sold on third-party sites, unlike the primary marketplace where users can list NFTs. Cryptocurrencies like publishing startup Mirror and collective FWB have used the Zora protocol to sell NFTs to community members.

The round has backers including Haun Ventures. Haun earned a seat on the board after leading OpenSea's Series B.

Following a16z departure, Katie Haun debuts Haun Ventures with $1.5B in capital to back crypto startups