Hyy.pe is building a platform for NFT communities to connect, share stories, and collaboratively build their history. On Tuesday, the social non-fungible token (NFT) platform, Hyy.pe said it has raised $2 million in a fresh funding round headed by Elevation Capital.
The series also witnessed participation from several leading angel investors, including Ryan Adams and David Hoffman, founders, Bankless; Cuy Sheffield, head of the crypto, Visa, and Farid Ahsan co-founder, ShareChat. Previously, the organisation had raised $1.5 million from Electric Capital.
Hyy.pe is creating a platform for NFT communities to connect, share stories, and collaboratively build their history. For example, users will be able to share what got them to buy a certain NFT, the collectible’s origin tale or collaborate on derived artwork. Hyy.pe wants NFT creators and owners to have the independence to form their art collection as their identity.
The company is preparing to start with 13 popular collections originally, including CryptoPunks, Bored Apes, Cool Cats, Avastars, Loot, and Punk Comics, before expanding to include all the collections for everyone.
“With Hyy.pe, a user can curate their NFT collection to serve as a main medium of self-expression. It really pushes forward the idea that collectively the media you own, in the form of NFTs, can establish your individuality on the internet and help you connect deeper with communities. Hyy.pe wants to be a cohesive space for a million communities,” stated Supriyo Roy, co-founder, Hyy.pe.
In the absence of a specialized platform, NFT communities connect on Discord and Twitter for their interactions. According to the company, there is a whitespace for dedicated platforms that equips collectors and artists with tools to share their stories socially.
“NFTs are very inherently social. The value of NFT is bolstered by the stories, interactions, derivatives, and provenance around them. We are at the cusp of new forms of social interactions and community formation that NFTs will enable. We are thrilled to partner with Supriyo and Scott to build such a social network,” stated Vaas Bhaskar, principal, Elevation Capital.
With the current fundraise, the firm will continue to hire product engineers to strengthen the platform by engaging directly with the communities and integrating feedback on user experience.