Hug, a New York-based social marketplace that connects digital art and NFT creators with current and prospective collectors, raised $5M in Seed funding.
The round was led by DIGITAL with participation from OKX Ventures, L’Oréal’s BOLD corporate venture fund, Venrex, Jae Holdings, Cryptology, Samara, and Aa Sons.
The company intends to use the funds to accelerate product growth and integrate creator-first commerce features with its existing social curation and discovery tools.
Founded by CEO Randi Zuckerberg, who was later joined by Singaporean investor and entrepreneur Debbie Soon as Co-founder and Chief Growth Officer, Hug is a social marketplace that allows artists to sell digital and physical goods, and connects them with current and prospective collectors. Through a community-driven, decentralized curation process, the company spotlights diverse creators, including and especially those from underrepresented and marginalized communities. Hug is also known for Hug Studios, which offers educational and advisory programs for Web3 startup founders and creative entrepreneurs.
In November 2022, HUG consolidated the Meta Angels NFT community under its parent company Assemble.
FinSMEs
12/04/2023