Jambb, a digital comedy collectibles marketplace, secures $3.5 million in a seed funding round.
The firm also announced that it was planning to launch the marketplace on Flow blockchain in early November during Flow’s immersion event.
What is Jambb?
Jambb was Founded in 2020 with a mission to transform the way novel content is consumed. Boston-based digital comedy collectibles startup serve collectors by unlocking the value of novel content and empowering them to own cultural moments with utility and exclusivity akin to physical collectibles.
Launching with the best source of comedy collectibles in the world, Jambb enables fans to acquire and share epic content in the form of their favorite jokes, sets, specials, and memorabilia. In addition, Jambb’s platform gives comedians the opportunity to reach new types of fans, create additional revenue streams from their content, and potentially benefit from open secondary markets—a mechanism unique to Non-fungible Tokens (NFTs) that is rarely, if ever, seen in entertainment.
Jambb Seed Funding Round
The Seed Funding Round round was co-led by Arrington Capital and Animoca Brands.
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Additional investors include Dapper Labs, the original developers of Flow, which hosts Jambb’s NFT technology; ParaFi Capital; LD Capital; Signum Capital; NextView Ventures; Ascensive Assets; and Waterdrip Capital.
A group of successful entrepreneurs and advisors also joined the round, including Danish Chaudhry, CEO of Bitcoin.com Exchange; seasoned crypto investor Ravi Kaza; executive producer Kelly McClurkin; and founder/CEO of Numinous Company, Azhar Usman (aka “Cryptocomedian from the Future”). In addition, Jambb’s technology partners include Blocto, Moonbeam, MoonPay, BlockVenture, and Graffle.
Michael Arrington, Partner at Arrington Capital, said:
“What makes us laugh is deeply embedded in history and culture, and we’re living in a time when technologies like NFTs are enabling individuals to express themselves on a global level, or own moments that are iconic or deeply meaningful on a personal level. Jambb is providing a massive new platform for self-expression and ownership of nature’s best medicine, and we’re so happy to be along for the ride.”
Jambb claims that it is changing the paradigm of the “traditional” NFT by giving fans a chance to actually own rare, exclusive comedy collectibles minted in small batches, and utilize that content in a myriad of ways via the Jambb platform.
Jambb’s NFTs will be available on a standalone basis, or as part of a pack comprising an assortment of jokes, bits, sets, or memorabilia in varying tiers of rarity. Once collectors purchase content, they will have the opportunity to create their own gallery on the Jambb network, then continue to collect NFTs, with a chance to reap the rewards of their personal gallery in the form of various perks, such as tickets to a show, backstage passes, or even the ability to choose a comedian’s bit for a future show.
Yat Siu, co-founder and chairman of Animoca Brands, said:
“The next wave of technology needs to allow fans to own the cultural moments they love, and we at Animoca Brands appreciate that Jambb is doing this in a completely new way, starting with comedy—something that has unified us throughout the pandemic. Very few things are as universal as laughter, and Jambb’s approach to creating moments that give actual rights to the fans who own them is game-changing. Jambb is a great example of how NFTs function as a store of culture.”
Jambb Future Plans
Jambb is planning to use the funds to acquire contents, expand its blockchain engine, and grow its team. It is also planning to partner with leading production houses to create content that “offers never-before-seen cuts to fans and unprecedented splits to creators”.
In July 2021, Jambb filmed Non Fungible Jokin’™, the first comedy special ever produced and sold on the blockchain. Non Fungible Jokin’ collectibles featuring Maria Bamford (Lady Dynamite), Pete Holmes (Crashing), Zainab Johnson (Upload), Beth Stelling (Girl Daddy), Chaunte Wayans (Tiffany Haddish Presents: They Ready), Adam Ray (Hacks), Ian Edwards (Black Dynamite, Tangerine), and Moses Storm (Arrested Development, I’m Dying Up Here) will be available on Jambb’s platform, along with other assets from established comedians and rising stars.
Alex DiNunzio, Jambb’s co-founder and CEO, commented:
“People buy NFTs for many reasons, but the one that resonates with me most is having a way to satisfy their collector urges by owning moments they can share with the world while connecting with the artists and communities they love.”
