Sturdy Exchange

Sturdy Exchange operates as a curated marketplace for Non-Fungible Tokens (NFTs), connecting artists, entertainers, and brands with collectors and fans. The company was established in 2021 by Lisandro Tolentino and Connor Moy, and is headquartered in Los Angeles. It emerged from the creative studio and production company, Sturdy, which is known for its work with high-profile musical artists like Drake, Travis Scott, and Olivia Rodrigo. The marketplace was co-founded by the creative agency's Tyler Henry and Shawn Mendes' manager, Andrew Gertler, to provide a dedicated platform for artists.

The firm's business model centers on facilitating the sale of exclusive, curated NFT collections directly from creators to their audiences. Sturdy Exchange aims to simplify the entry into the NFT space for a broader audience by accepting a variety of payment methods, including credit cards, wire transfers, Bitcoin, and Ethereum. The platform is built on the Flow blockchain, a choice made to minimize the environmental impact often associated with blockchain technologies. The company generates revenue from the transactions on its platform, which includes initial sales of NFT drops and potentially secondary market fees. The business targets both seasoned NFT collectors and mainstream fans of the artists and brands featured on the platform.

The primary service offered is a full-service NFT marketplace that provides a curated experience. For creators, it's a vehicle to launch digital collectibles and engage with their fanbase in a new format. For users, the platform offers the ability to purchase and own digital assets tied to their favorite entertainers. These NFTs often come with added utility, such as access to signed merchandise, meet-and-greets, or special access to live events, enhancing the value proposition beyond simple ownership. A significant milestone was its beta launch, which featured a 5,000-piece art project by artist Somehoodlum, selling out within 24 hours. In October 2021, Sturdy Exchange secured $4.3 million in a Seed funding round led by Ali Saheli of Hex Capital, with participation from investors including Coinbase Ventures and Dapper Labs.

Keywords: NFT marketplace, digital collectibles, fan engagement, creator economy, crypto assets, Flow blockchain, celebrity NFTs, music NFTs, art NFTs, Sturdy, Lisandro Tolentino, Connor Moy, Tyler Henry, Andrew Gertler, curated NFTs, fan tokens, digital ownership, web3 platform, entertainment NFTs, brand collaboration