Justin Kan’s Gaming NFT Marketplace Fractal Secures $35M Seed Funding

The round was led by venture firms Multicoin Capital and Paradigm


Source: Fractal


key takeaways

  • Participants include Andreesen Horowitz, Solana Labs, Animoca and Coinbase
  • Fractal currently has roughly 17 full-time employees

Fractal, a gaming NFT marketplace founded by Twitch co-founder Justin Kan, announced a $35 million seed round on Friday. 

The fresh raise, Kan told Blockworks, will go toward staff expansion, specifically building out a partnerships team and making hires that are “engineering and product heavy.”

Kan has not disclosed the startup’s valuation yet. Fractal has roughly 17 full-time employees but does not have an exact headcount plan by year-end.

“Measuring your company by the size of headcount is like measuring your plane by its weight,” Kan said.

“The main priorities are to build great products for the game partners, and then help them with launching their games. We see it as, if we make our partners successful, we’ll be successful.”

Fractal is a Solana-based marketplace for gamers to buy and sell in-game assets or NFTs (non-fungible tokens). 

“The thing that’s going to work in NFTs, just off the bat, I thought was gaming because there’s already a culture of buying digital assets and digital goods, right?” Kan said. “There’s people buying skins and in-game items, worth tens of billions of dollars each year. Putting it on the blockchain as the next evolution was very obvious to me.”

The startup, according to Kan, “helps gaming companies drop these assets and create a market around these assets with their players.”

Last December, a scammer briefly hacked Fractal’s Discord server, stealing $150,000 worth of Solana from users. Kan reimbursed those affected by the incident with his own funds.

Other participants in the financing round include Andreesen Horowitz, Solana Labs, Animoca, Coinbase, Play Ventures, Crossover, Shrug Capital, Position Ventures, Zynga founder Mark Pincus, TerraForm chief executive Do Kwon and podcaster Tim Ferriss.

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the On the Margin newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.


Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2024

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research Report Templates.png


ZKPs enable efficient offchain transaction processing and validation, resulting in increased throughput and reduced fees. Solana's ZK Compression leverages ZKPs to minimize onchain storage costs, while Sui's zkLogin streamlines user onboarding by replacing complex key management with familiar OAuth credentials.


The crypto asset manager lowered its planned fee from 0.25% to 0.15%, undercutting its competitors


Plus, a look at planned ETH ETF fees and how they differ from their BTC counterparts


North Korea suspected in breach of Indian exchange’s multisig wallet


Plus, Sanctum’s CLOUD token has officially launched — but not without problems


It’s not yet clear whether Donald Trump is pumping bitcoin. But an unofficial memecoin is still seeing benefit.