Mercury raised $7.5 million in a seed round led by Multcoin Capital on Oct. 20 and North Island Ventures, Crosslink Capital, Brevan Howard Digital participate the seed round. With this funding, Mercury will expand its team and use it to grow its growing line of athletic programs.
About the Finance Round
The announcement of the seed round funding comes after the University recruited more than seventy athlete-students to the new NIL group for its Mercury-based platform. This platform has a robust NFT-Gated community with exclusive benefits such as interviews with players and coaches, limited NFT drops, and a community marketplace. Mercury also recently partnered with the athletic department of the University of Central Florida and the athletic department of Clemson University. They announced that they would partner with the athletic department of the University of Oklahoma in the future.
Mercury works closely with student-athletes and university athletic departments to design and build community platforms. One of Mercury’s biggest goals in working this way is to make sure their projects appeal to fans and college students.
Commenting on the seed round financing, Mercury CEO Porter Grieve said; “We are grateful to our investors, brand partners, and athletes who trust us with their brands as well as we build the future of the fan experience.” and added; “We’re fortunate to already have a strong pipeline of schools interested in using Mercury to build bespoke fan-engagement platforms. This funding helps us capture that interest and create innovative experiences for athletes, universities, and most importantly, fans.”
Mercury is best known for the University of Kansas’ Rock Chalk fan site and the University of Kentucky’s Blue Chips fan community. These sites showcase the power of the Mercury platform, which unlocks exclusive access to fans’ chats with athletes, exclusive team content, and other college events.
“Mercury is catalyzing NFT adoption at the collegiate level by unlocking compelling new experiences that bring fans closer to the athletes and schools they love,” said Matt Shapiro, Partner at Multicoin Capital.
Mercury was founded in 2021 to create a digital experience exclusive to top college brands to bring fans closer to their favorite athletes and teams. The company is partnering with leading collegiate brands in sports to create hyper-local platforms for a modern fan experience. It encompasses communities, dynamic conversations with and between athletes, exclusive team content, and digital collections and passes to unlock exclusive access for fans.
About Multicoin Capital
Multicoin Capital is a thesis-oriented investment firm that invests in cryptocurrencies, tokens, and blockchain companies.