NFTs are cool but creating and selling them is a laborious process that requires setting up coin wallets and finding blockchains to list the artwork. For techies, the process might be worth it but for everyday consumers, it’s a barrier to entry. Luckily it might soon get easier to create and sell pieces thanks to a new Web3 startup out of NYC.
Built on the Shopify platform, Novel is a no-code Web3 e-commerce platform that guides sellers from creating an NFT to selling it. It also manages royalty payments for the original creator.
The company was founded by a trio of startup executives and is launching with a $6 million seed round that was led by VC firm Lerer Hippeau. According to a statement, the fresh capital will be used to hire talent to build out the platform.
“Novel eliminates the need for brands and creators to be well-versed in cryptocurrency and blockchain technology,” Roger Beaman, Novel’s CEO, said in a statement. “What excites me the most about Novel is that the tech no longer has to be a barrier. If you are an A+ artist or brand-builder on a shoestring budget we can give you the Web3 tools you need, just as Shopify has done for e-commerce operators.”
With Novel’s platform, everyone from individual creators to brands can make and mint NFTs without any coding or blockchain experience. After designing a piece it is automatically uploaded to the blockchain using the Polygon platform, which is the most eco-friendly Ethereum-based platform for processing NFT sales. Novel also gives creators further tools that will allow them to charge royalties every time an NFT is sold.
Despite NFTs being non-fungible products, the platform also allows creators to sell merchandise such as T-shirts alongside their NFTs.
While most other Web3 marketplaces only focus on facilitating sales, Novel is trying to take the industry one step further by trying to create community and connections between buyers and sellers.
In addition to being able to buy unique memorable upon purchasing an NFT, buyers can also get access to VIP treatments. According to the company’s website, buyers may get access to exclusive AMAs, drops and events.
“The Web3 ecosystem has so much potential for widespread adoption but lacks the streamlined experience necessary to become ubiquitous. The moment we are in reminds me of websites adoption for brands in the late 1990s and the gradual layering of e-commerce a decade later. Digital goods house a world of utility and value, be it special offers or access to exclusive message channels and more,” Novel’s Executive Chairperson Brian Sugar said in a statement
