NFT: shared ownership platform Lore raises $4M

Lorea startup that designs a platform allowing the Web3 communities from to put together from NFThas completed a financing round led by Multicoin Capital.

Lore built the “first co-ownership platform for web3 collectives” offering the possibility to co-buy and co-use digital assetssuch as NFTs, in a transparent manner.

The San Francisco-based startup founded in 2020 just raised 4 million dollars from the native crypto VC Multicoin. The financing round also includes the participation of other big names in the sector including North Island Ventures, Sfermion, CMT Digital or the business angel and former Coinbase Balaji Srinivasan. It brings the total funds raised by Lore at $7.1 million.

Today, we are proud to announce our investment in Lore […] The current offering is twofold: a protocol that allows collectives to create trustless shared portfolios, and a platform for further coordination and use after purchase.” tweeted Thursday night Shanyon Sengupta, partner at Multicoin.

According to Sengupta, hosting a digital collective is “a cumbersome process” because of issues in fragmentation of the user experience. “Leaders must choose the appropriate permissions and tracking tools from dozens of options,” he explained.

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Lore thus wishes to offer a “true experience of shared ownership allowing collectives to buy, own and use NFT exactly as they would if they were solo users,” the investor said.

The platform, whose beta opened its doors to the public yesterday, was already operated by several communities in a private beta. Among them, DeadBirds Society, a Moonbirds “sub-parliament” that has collected over 100 ETH from its members.

Our Safe-based co-ownership protocol allows web3 collectives to pool resources continuously, issue shares to members and achieve any on-chain goal. Pooling money with your friends allows you to access NFTs that might have been inaccessible alone,” Lore wrote in a blog post.

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