Hot Drops Raises $2.4 Million Seed Round, Launches Inaugural Collection with Leading Stars

LOS ANGELES - APRIL 12, 2022 - Hot Drops (www.myhotdrops.com), the first inclusive NFT marketplace, allowing mainstream and adult NFTs to safely coexist on the same platform, is disrupting how creators and fans connect with next-gen experiences, limited-edition digital collectibles, community, and loyalty rewards. The company was founded by creators, for creators, and celebrates diversity, freedom of speech, embraces legal creative expression, and provides equitable access to blockchain and NFT technologies. Today marks the launch of their newly designed platform at NFT.LA after procuring more than $2.4 million in seed funding, which was an oversubscribed round.

The best analogy for the utility and innovation of Hot Drops is an OnlyFans-like platform on NFTs meets NBA Top Shot, both which utilized similar patronage models for over $5 billion in sales last year alone. However, Hot Drops is revolutionary in the way it aims to solve issues that have long plagued the entertainment industries. The platform is paving the way to be a leader in the protection of minors accessing adult content. It is ahead of the curve on the enforcement of regulations being passed in several countries around the world, through uniquely age-verified accounts to purchase or view content and enforces an invite-only acceptance program for established creators. Hot Drops is shifting the paradigm of content being taken for free and rewarding loyal fans for purchasing content in a gamified experience. The platform will also be implementing additional features in privacy, anti-piracy, authentication, community building, and flexible payment options of fiat and major cryptocurrencies to tap into historically unbanked regions, over the coming weeks.

Later this year, Hot Drops will also be launching a two-sided marketplace to buy, sell, and rent creator content, monetizing brands, and enabling content creators to earn royalties on their content for the first time, even after they retire.

The first 12 creators on Hot Drops, called the Dirty Dozen, represent an aggregation of powerhouse adult stars consisting of Dani Daniels, Brandi Love, Cherie Deville, Alison Tyler, Elsa Jean, Lauren Phillips, Kenna James, Alex Coal, Reagan Foxx, Shyla Jennings, Joanna Angel, and Eva Lovia, with a combined social reach of more than 30 million followers.

Hot Drops’ Collector Access Pass is on sale now for $29.99 for a limited time and then the price will increase to $99.99. It allows purchasers early access to NFT drops, as well as a 10% discount on content for 1 year. The first collection of content creator drops will go on sale mid-April. Collections will then continue to drop each week from different creators on the Hot Drops platform. 

Hot Drops is female-led and founded. It is backed by a team of industry leaders including former adult content creator Ashley Youdan, who pivoted her career into computer science and entrepreneurship; as well as a technology team that has consulted and worked on the project with backgrounds ranging from former veteran senior management at Google, Expedia, Microsoft, Inc. Magazine top 50 ranked companies, Penn State, MIT, and several successful Web3 and play-to-earn gaming projects. Lead investors and advisors include Transform Ventures founder Michael Terpin who has worked with over 200 Blockchain PR clients and David Jensen, who founded and led EY's Global Innovation and Digital Business team through a period of exponential growth. Other advisors and investors have backgrounds from Playstation, Playboy, and Hollywood.

For more information, and to purchase the Collector Access Pass, please visit www.myhotdrops.com or follow Hot Drops on Twitter @myhotdrops. 

ABOUT HOT DROPS

Hot Drops (www.myhotdrops.com) is an inclusive NFT marketplace disrupting how creators and fans connect with next-gen experiences, exclusive, limited-edition digital collectibles, community, and loyalty rewards. Through collaborations with diverse influencers, artists, clothing brands, high fashion photographers, directors and more, Hot Drops aims to destigmatize, bridging the gap between what has previously been considered "mainstream" and "adult,” while bringing NFT collections of value and utility. Launched in Q1 2022, Hot Drops’ technology will offer safer, more compliant content using smart contracts, age authenticated accounts to purchase or view content and will require a manual approval process for established creators to prevent minors from accessing mature content or monetizing on the platform. Hot Drops will also feature a gamification aspect, rewarding loyal fans and communities for their purchases with exclusive content and experiences. With 12 of its first creators onboard having a social reach of over 30 million followers, Hot Drops looks to scale its roster across all verticals of influencers rapidly. 

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