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Dragonfly and OpenSea back $10 million raise for NFT financing firm MetaStreet

Quick Take

  • The NFT debt and financing firm MetaStreet raised $10 million in funding. 
  • The firm’s total funding is now $24 million. 
  • MetaStreet aims to build out liquidity, debt and collateralization infrastructure for the NFT industry. 

The NFT debt provider MetaStreet has raised $10 million in fresh funding. 

Investors in the round include DragonFly Capital, Nascent and Ethereal Ventures, who funded MetaStreet before. New investors participated as well, such as Fintech Collective, DCG, TheLAO, Focus Labs, Mirana Ventures, Metaversal, OpenSea Ventures, Ledgerprime, Meta4 and Flying Falcon.

Combined with $14 million total in seed funding acquired in February, MetaStreet’s total financing is now $24 million, according to a release shared with The Block. 

The firm will use the funding to create trust, credit and ownership products to facilitate debt and build out the NFT industry’s debt infrastructure. 

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MetaStreet was founded in 2021 and provides liquidity and scaling infrastructure for NFT collateralization platforms. The firm aims to augment the NFT industry debt system by providing automated underwriting, mitigation waterfalls and other tools. 

While not as hot as in 2021, this year’s NFT trading industry sees consistent interest, especially in the gaming sector. Weekly trade volumes exceeded $30 million in sales in the first week of October, The Block’s data shows.


© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on Link