Christine Brown, former Robinhood Crypto COO, is one of the co-founders Floor, a new NFT portfolio application with its own member NFTs.
Robinhood Crypto’s initial COO Christine Brown was the face of the crypto business until she resigned at the end March. She would only have said that she was “starting crypto venture”.
Today Brown shared where she landed: Floor, a tokenized NFT portfolio tracker platform. She announced an $8 million seed round, led by 6th Man Ventures, Collab+Currency and Crypto.com.
Floor has been around since October last year when it issued its Generation I membership NFTs. But today, it looks like the company is celebrating its coming-out party.
Brown will join as CEO along with Chris Maddern, CEO, and Sid Dabral (CTO), the co-founders at e-commerce company Button. Maddern was also previously the head of mobile at Venmo.
In an interview with Decrypt Brown, Brown identifies Floor as a solution to the “nightmare scenario” that involves trying to track the price movements of your NFTs over time using leading marketplaces such as OpenSea.
She says, “You need to open a tab on the marketplace to understand its long-term performance.” It becomes difficult to understand and wrangle the information once you have started doing it for multiple entities at once. Chris Maddern, my co-founder… created an app last year to do this and it does it well. The app is easy to use. You can open it, enter your wallet address and see your NFTs portfolio, their values over time, and what’s going on in that collection. This gives you interesting and unique insights into the data. It makes you smarter and more connected with the tokens you purchase. Users are opening this app multiple times per day, and they tell us that it’s like the first thing they do when they get out of bed. They want to know what’s happening.
Floor’s mobile app can only be accessed by Floor NFT holders at the moment. Floor NFTs allow users to access the app and join the community where they can discuss new features.
According to a blog post Floor plans to use the $8 million funding to quickly grow the product beyond a token-gated community. It also aims to create new value for token holders and open parts of the Floor platform to everyone. This will help them reach their goal of making NFTs more accessible and understandable for everyone.
Brown praises Rainbow wallet for its branding and UX.
“It’s super delightful. This is what I show people when I take new people into self custody. She said that it has a beautiful UI. “UI and user experience are key to helping people navigate this area,” she said. My initial issues with Bitcoin and crypto were that it was extremely technical. It was meant for engineers by engineers.
Fierce competition among NFT platform platforms
Floor, however, is in a very crowded area.
There are many platforms, beyond the NFT marketplace race, which is led by OpenSea with Rarible Foundation, Zora and Nifty Gateway and scores of other players jockeying for position. These platforms, such as Floor, allow clear and simple viewing of your entire NFT collection.
Brown said that markets are becoming fragmented when asked about competition. Users today find it more difficult to understand their NFTs because of all the use cases, markets, and chains. Floor’s magic lies in that it provides a single view of all the data. This is crucial for large audiences to find it easy and intuitive. When people say that there is a lot happening in this space, does this mean that there is a tiny slice of the pie that is getting cut down further? “Actually, the more the pie is cut up, the better you can understand which slice is yours and how to interact with it. This is an opportunity Floor is opening up that we hadn’t seen before.