Paris Hilton Allocates $4 Million to Afterparty’s Polygon NFT Ticketing Fundraiser 

Paris-Hilton-Invests-4-million-Afterparty-NFT-Fundraiser

David Fields, the CEO, and creator of Afterparty discussed the company’s future goals, including the possibility of being a dedicated ticketing platform for NFT. 

NFT firm Afterparty has raised $4 million to support the development of its NFT ticketing platform. This raises the total money raised to $7 million. 

Investors of Afterparty NFT Project

Paris-Hilton-Afterparty-4-million-NFT-project

The project’s angel investors are Paris Hilton, co-founder of Zillow, Spencer Rascoff, Jason Calacanis, and NBA player Andre Iguodala. Acrew Capital, Block change, and TenOneTen Ventures, three of the company’s original investors, all contributed to the investment round. 

The debut NFT-ticketed music event, the Afterparty Music Festival, started in March. The celebrities who own the Utopians series of Ethereum-based NFT tickets are Heidi Klum, Josh Duhamel, and Sia. 

In addition, the business claimed that a second NFT collection would be launched on Polygon soon. The Guardians NFT collection will be published in May alongside the second generation of Afterparty’s NFT marketplace. With Polygon, Afterparty hopes to differentiate itself from other ticketing services that demand a large transaction fee by offering reduced ticket prices. 

According to David Fields, the company’s CEO and founder, Afterparty has intentions to become a specialized ticketing site for NFT events. 

For two reasons: demonstrating the model’s viability on a big scale and fostering long-lasting partnerships. However, he said, “in the long term, we envision ourselves expanding into a marketplace for experiences, such as concert tickets”. 

In addition to gaining entry to an event, afterparty NFTs allow users to purchase tickets to upcoming events. 

In anticipation of its forthcoming event in Los Angeles in October, Afterparty has joined with MoonPay. This enables participants who do not have bitcoin wallets to purchase their tickets, Guardians NFTs, with cash or credit cards. 

Regarding custody, ticket holders will have entire control over their NFTs and may choose to retain them in their wallets or cold storage. 

Although Fields emphasized that Afterparty’s goal is to provide creatives access to Web 3 functionality, he also pointed out that the business is still relatively unknown to the general public. 

“A significant part of our aim at Afterparty is about providing artists with the tools to succeed with Web3. “We’re far from a world where NFTs can be utilized to their full potential for artists, and we want to be part of the answer,” he added, “without 99.9 percent of those creators’ audience owning a crypto wallet.” 


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