The NFT market Hot Drops, a platform that allows mainstream and adult NFTs to coexist securely on the same platform, announced the debut of its platform at NFT.LA after raising over $2.4 million in seed investment in an oversubscribed round.
Transform Ventures founder Michael Terpin, who has worked with over 200 Blockchain PR clients, and David Jensen, who developed and managed EY’s Global Innovation and Digital Business unit through a time of exponential expansion, are among the lead investors and advisors. Other advisors and investors come from the Playstation, Playboy, and Hollywood worlds, respectively. Hot Drops aims to address long-standing problems in the entertainment industry, with the platform paving the road to becoming a leader in the protection of children who access sexual 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. “Hot Drops is shifting the paradigm of content being taken for free and rewarding loyal fans for purchasing content in a gamified experience,” a statement issued by Hot Drops stated. “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,” it added.
Hot Drops is sponsored by a group of industry heavyweights, including Ashley Youdan, a former content producer who switched careers to computer science and entrepreneurship.
