BOSTON--(BUSINESS WIRE)--Jambb, a digital comedy collectibles marketplace founded in 2020 with a mission to transform the way novel content is consumed, has closed $3.5 million in seed funding and announced that it is targeting an official launch on Flow in early November during Flow’s month-long immersion event into the cutting edge of what is being built in crypto.
The round was co-led by Arrington Capital, a digital asset management firm in blockchain-based capital markets based in Seattle, and Animoca Brands, a leader in digital entertainment, blockchain, and gamification headquartered in Hong Kong. Additional investors include Dapper Labs, the original developers of Flow, which hosts Jambb’s NFT technology; ParaFi Capital; LD Capital; Signum Capital; NextView Ventures; Ascensive Assets; and Waterdrip Capital. A group of successful entrepreneurs and advisors also joined the round, including Danish Chaudhry, CEO of Bitcoin.com Exchange; seasoned crypto investor Ravi Kaza; executive producer Kelly McClurkin; and founder/CEO of Numinous Company, Azhar Usman (aka "Cryptocomedian from the Future"). In addition, Jambb’s technology partners include Blocto, Moonbeam, MoonPay, BlockVenture, and Graffle.
“What makes us laugh is deeply embedded in history and culture, and we’re living in a time when technologies like NFTs are enabling individuals to express themselves on a global level, or own moments that are iconic or deeply meaningful on a personal level,” said Michael Arrington, Partner at Arrington Capital. “Jambb is providing a massive new platform for self-expression and ownership of nature’s best medicine, and we’re so happy to be along for the ride.”
Jambb is changing the paradigm of the “traditional” NFT by giving fans a chance to actually own rare, exclusive comedy collectibles minted in small batches, and utilize that content in a myriad of ways via the Jambb platform. Jambb’s NFTs will be available on a standalone basis, or as part of a pack comprising an assortment of jokes, bits, sets, or memorabilia in varying tiers of rarity. Once collectors purchase content, they will have the opportunity to create their own gallery on the Jambb network, then continue to collect NFTs, with a chance to reap the rewards of their personal gallery in the form of various perks, such as tickets to a show, backstage passes, or even the ability to choose a comedian’s bit for a future show.
“The next wave of technology needs to allow fans to own the cultural moments they love, and we at Animoca Brands appreciate that Jambb is doing this in a completely new way, starting with comedy—something that has unified us throughout the pandemic,” said Yat Siu, co-founder and chairman of Animoca Brands. “Very few things are as universal as laughter, and Jambb’s approach to creating moments that give actual rights to the fans who own them is game-changing. Jambb is a great example of how NFTs function as a store of culture.”
Jambb plans to use the funds to support content acquisition, expand its blockchain engine, grow headcount, and partner with leading production teams to create content that offers never-before-seen cuts to fans and unprecedented splits to creators. In July 2021, Jambb filmed Non Fungible Jokin’™, the first comedy special ever produced and sold on the blockchain. Non Fungible Jokin’ collectibles featuring Maria Bamford (Lady Dynamite), Pete Holmes (Crashing), Zainab Johnson (Upload), Beth Stelling (Girl Daddy), Chaunte Wayans (Tiffany Haddish Presents: They Ready), Adam Ray (Hacks), Ian Edwards (Black Dynamite, Tangerine), and Moses Storm (Arrested Development, I'm Dying Up Here) will be available on Jambb’s platform, along with other assets from established comedians and rising stars.
“We are thrilled that Animoca Brands, Arrington, and other forward-thinking investors are as enthusiastic about our mission to fundamentally change how comedy is distributed and consumed as we are,” said Alex DiNunzio, Jambb’s co-founder and CEO. “People buy NFTs for many reasons, but the one that resonates with me most is having a way to satisfy their collector urges by owning moments they can share with the world while connecting with the artists and communities they love.”
Jambb is a Boston-based digital comedy collectibles startup founded in 2020 with a mission to serve collectors by unlocking the value of novel content and empowering them to own cultural moments with utility and exclusivity akin to physical collectibles. Launching with the best source of comedy collectibles in the world, Jambb enables fans to acquire and share epic content in the form of their favorite jokes, sets, specials, and memorabilia. In addition, Jambb’s platform gives comedians the opportunity to reach new types of fans, create additional revenue streams from their content, and potentially benefit from open secondary markets—a mechanism unique to NFTs that is rarely, if ever, seen in entertainment. Learn more at jambb.com.
About Arrington Capital
Arrington Capital is a digital asset management firm primarily focused on blockchain-based capital markets. The firm, founded in 2017 by TechCrunch and CrunchBase founder Michael Arrington and TechCrunch CEO Heather Harde, has over $1 billion under management and has invested in hundreds of startups across the world. Arrington Capital is a seasoned, international team composed of Silicon Valley veterans and operators with deep venture capital experience and crypto native roots. Arrington Capital’s first fund was Arrington XRP Capital, and has expanded to multiple funds over time. Learn more at arringtoncapital.com.
About Animoca Brands
Animoca Brands, ranked in the Financial Times list of High Growth Companies Asia-Pacific 2021, is a leader in digital entertainment, blockchain, and gamification. Animoca Brands develops and publishes a broad portfolio of products including the REVV token and SAND token; original games including The Sandbox, Crazy Kings, and Crazy Defense Heroes; and products utilizing popular intellectual properties including Formula 1®, Marvel, WWE, Power Rangers, MotoGP™, and Doraemon. Animoca Brands’ portfolio of blockchain investments and partnerships includes Sky Mavis (Axie Infinity), Dapper Labs (CryptoKitties and NBA Top Shot), OpenSea, Harmony, Bitski, and Alien Worlds. Its subsidiaries include The Sandbox, Blowfish Studios, Quidd, Gamee, nWay, Pixowl, and Lympo. For more information visit www.animocabrands.com or get updates by following Animoca Brands on Facebook or Twitter.