Drops is a Vilnius, Lithuania-based project that builds infrastructure to surface additional value for non-fungible tokens (NFTs), offering loans, vaults, staking and yield farming for NFT owners and investors. The team plans tools that let NFT owners stake NFTs to earn dPoints, use a dNFT protocol to vault NFTs and convert them into ERC20 tokens, and underpin NFT loan smart contracts and yield-farming supply without selling the original NFT. Drops says it will use capital for development, marketing, operational expenses and liquidity provision. The company has a roadmap for 2021 and plans an initial offering for the NFT and cryptocurrency communities in Q2 2021, led by Darius Kazlovskis. The round builds on a network of strategic partners including Polkastarter, Quantstamp, 0xb1, Kyros Ventures, Zokyo, Petrock Capital and Blockstar Technologies.

Total raised

$1M

Funding rounds

1

Latest round

Equity

Latest activity

May 2021