ITSMYNE

ITSMYNE, a brand under NFT Labs, Inc., operates as a social-plus marketplace focused on officially licensed sports non-fungible tokens (NFTs). Founded in July 2021 by Atharva Sabnis and Ayan Uali, the company aims to simplify NFTs for a mainstream audience, particularly those not native to cryptocurrency. The platform is designed to be user-friendly, allowing individuals with or without prior crypto experience to purchase digital collectibles.

The core of ITSMYNE's business is to provide a centralized marketplace where sports and cinema fans can buy, trade, and discuss officially licensed NFTs directly from athletes, teams, and production studios. This model seeks to bridge the gap between traditional social media and blockchain-based economies. Revenue is generated through several streams, including a per-user fee from blockchain partners for onboarding new users, a percentage of client campaign spending on their web3 advertising platform, and fees for their Itsmyne product. The platform supports payments in both fiat currency and cryptocurrency and provides an integrated custodial wallet to ease the user experience.

A key feature of the platform is its social component, which is structured similarly to Reddit, allowing community members to engage in discussions about their favorite topics while trading relevant NFTs. ITSMYNE emphasizes offering curated collections of officially licensed NFTs, ensuring authenticity for buyers. In November 2021, its parent company NFT Labs announced it had raised nearly $2 million through a combination of seed, strategic, private, and public funding rounds, with investors including Shima Capital, AU21 Capital, and Oracles Investment Group. The project also introduced its native BEP-20 token, MYNE, on the BNB Smart Chain, which is intended for staking, governance, and other ecosystem functions.

Keywords: NFT marketplace, sports NFTs, digital collectibles, fan engagement, web3 platform, NFT Labs, officially licensed NFTs, social commerce, crypto collectibles, blockchain technology, MYNE token, digital memorabilia, fiat and crypto payments, custodial wallet, fan community, sports technology, entertainment NFTs, Atharva Sabnis, Ayan Uali, BEP-20