Supermojo announces completion of boot cycle to streamline NFT access
Launches Innovative Platform Focused on Point-of-Sale NFT Financing and Secured Lending
NEW YORK, July 14, 2022–(BUSINESS WIRE)–Super Mojo, Inc. (“Supermojo”) today announced the launch of its funding platform designed to make digital assets more accessible to the next wave of users. The platform facilitates point-of-sale financing to improve the NFT shopping experience and secured lending for better post-sale liquidity. Supermojo’s initial focus will be to partner with marketplaces and storefronts that serve the $25 billion NFT market (DappRadar).
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Supermojo’s funding round was led by BH Digital, DRW Venture Capital, Intersection Growth Partners and Neuberger Berman. Other investors include Sfermion, Arca, Gemini, Everyrealm, Arrington Capital, BlockFi Ventures, Circle Ventures, Crossbeam Venture Partners, Draper, FJ Labs, FBG Capital, OP Crypto, Red Beard Ventures, and Ripple.
Founded by CEO Amir Sarhangi and Head of Product and Engineering Craig DeWitt, two former Ripple executives, Supermojo quickly built a team with extensive experience building user-friendly crypto infrastructure and products, analytics data and financing solutions. Supermojo aims to make NFTs more accessible by providing marketplaces with differentiated and flexible payment and liquidity options.
“The NFT marketplace needs to welcome new users in order to continue to evolve. NFT marketplaces and storefronts do not yet offer the payment methods that most people are familiar with when shopping online. The “Buy Now” experiences , pay later” are essential for great payment experiences,” said Mr. Sarhangi. “Our team at Supermojo is committed to providing a more seamless, intuitive and accessible for the next wave of NFT users, from checkout to resale. We’re excited to kick off with our incredibly talented team and partners to deliver a seamless NFT experience to the next wave of users.”
“Digital goods will be the largest marketplace in the world, so providing an experience that is accessible to everyone, especially those without crypto expertise, is extremely important.” Mr. DeWitt added. “Supermojo’s cash lending and financing infrastructure lowers the barrier of entry for new users and brings us closer to a future of frictionless digital ownership.”
“There is significant appetite for an integrated Buy Now, Pay Later model for NFTs, which places Supermojo in a unique position to power the next evolution of this ecosystem,” said Andrew Steinwold, Managing Partner of Sfermion. “This kind of innovation is critical to the continued growth of the space, and we’re thrilled to support Supermojo and its strong leadership team of highly experienced operators and visionaries to deliver a much-needed product.”
Today, Supermojo also announced the appointment of Peter Sterling, Head of Specialty Finance at Neuberger Berman, as a member of the company’s Board of Directors.
“We are very pleased to back and support Supermojo. Web3 and traditional finance solutions are combined to deliver superior customer experiences to enter the high growth NFT market, today more than ever NFT owners are looking for ways to get cash against their NFT,” said Sterling.
The NFT industry has seen massive growth in the number of users, but the NFT funding market has lagged behind the overall industry growth. Funding options are generally limited to peer-to-peer and peer-to-pool protocols which are not intuitive or accessible to the average NFT buyer. Supermojo’s unique product solutions will increase the number of financing options available to customers and increase the simplicity and liquidity of the NFT ecosystem.
Supermojo is building the integrated customer lending experiences to fuel the growth of NFTs as a powerful new asset class. Supermojo’s platform will enable users to have a more accessible NFT experience from checkout to liquidity, while helping marketplaces and storefronts improve average order sizes and customer conversion rates. Supermojo’s built-in lending experience will take the friction out of buying NFTs by making it easier for users with no crypto knowledge, while Supermojo’s secured lending service will provide immediate liquidity to NFT holders. existing first order.
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Carissa Felger/Graham Kahr
Gasthalter & Cie.