- Seed round led by Supernode Global
- First NFTs are based on heavyweight world champion Tyson Fury
Sports-focused Web 3.0 firm Eterlast has raised €4.5 million (US$4.6 million) in seed funding to continue the development of blockchain-based technologies, including non-fungible tokens (NFTs), games and immersive experiences.
The round was led by venture capital firm Supernode Global, and included participation from Play Ventures, Active Partners, Founders Factory, Stake Capital and Immutable X.
The Barcelona-based startup’s first product concerns video digital collectibles, allowing fans to licence and own matches, highlights and clips from sporting history, with an initial focus on boxing and rugby union.
The first series of collectibles covers world heavyweight champion Tyson Fury’s sixth-round knockout victory over Dillian Whyte in April. Eterlast also has a partnership with Queensbury Promotions, Fury’s promoter.
The company plans to launch more blockchain-based products, including free-to-play games, in the future, adding it has confidence in the technology to provide functions beyond speculative NFTs.
“We are embarked on a mission, building the bridge for the next billion fans to enter Web 3.0,” said Eterlast founder and chief executive Joan Roure.
“We are targeting to consolidate global fragmented sports that tap into hundreds of millions of fans that enjoy their sport on a regular basis.
“We understand NFTs not as a product, but as a technology that enhances the experience of current use cases around gaming, collecting, and experiencing live events. With that view, we are building holistic ecosystems that bring those three elements together.”
Oli Strong from Supernode Global added: “The team have done a fantastic job to date, securing impressive partnerships and IP to integrate with their platform.
“In our view, there is a huge opportunity at the intersection of Sport and Web 3.0 and Eterlast are uniquely positioned to capitalise on this.”