SAN FRANCISCO - BostonChron -- Today Shima Capital is proud to celebrate the successful sell-out of Spice Finance's first NFT drop. The organization is a portfolio company at Shima Capital, the web3 venture capital fund founded by Yida Gao in 2021. The NFT collection, titled Prologue, consisted of 555 NFTs (Non-Fungible Tokens) and is the first NFT collection representing a position in a DeFi vault. These vaults exist on infrastructure developed by Spice to aggregate and simplify NFT lending.

Yida Gao believes Spice Finance is poised to become a leader in NFTFi, also known as NFT Finance, a concept born from the idea of combining DeFi and NFTs to attract new investors and increase liquidity for current participants. NFTFi platforms allow owners to earn real yield from their NFTs, instead of letting them sit idle in their crypto wallets.

More on Boston Chron

• Boston: March 2023: Latest Updates from the Mayor's Office of Housing
• Boston: April Allston/Brighton Community Center Study Meeting
• Boston: Mayor Wu Launches $750,000 Grant Fund to Support Growth of Businesses and Access to City Contracts
• Mayor Wu Announces $4 Million Investment to Expand Boston's Tuition Free Community College Program
• Boston: Meet the Fine Arts Work Center Scholarship Recipients

Shima Capital is always on the lookout for new opportunities in the web3 space; in other words the next big, new thing. With NFTs already one of the hottest verticals around, Spice Finance and NFTFi in general were a natural entrant into Shima's portfolio.

Shima Capital takes great pride in the success of their portfolio companies, and couldn't be happier for Spice Finance's success. After months of planning, the complete collection of 555 unique NFTs minted out within hours. And although Spice Finance can be credited with the successful launch, Yida Gao's team at Shima was there every step of the way to help ensure each aspect of the NFT event went smoothly. The same can be said for many other projects in their portfolio.

Inspired by the Dune series, Prologue is designed to give financial power to holders, allowing you to bridge the gap between DeFi and NFTFi. With a Prologue NFT, you're not just getting a lego piece, you are getting a foundation.

More on Boston Chron

• Boston: The Mary Eliza Project: Ward 3 Voter Records Now Available
• Boston AIR Spotlight: Ellice Patterson and Boston Transportation Department
• Mayor Wu Announces Applications Open for the 2023-2024 SPARK Boston Council
• Awake! Ye Sisters All: Sisterhood in Boston's Women's Voter Registers
• Mayor Wu Announces Events in Remembrance of the 2013 Boston Marathon

Spice Finance's Prologue NFT drop was just one of many web3 success stories coming from companies invested in by Yida Gao and Shima Capital, and certainly won't be the last. To follow and learn more about all companies in their portfolio, visit www.shima.capital.

About Shima Capital

Shima Capital is a leading early stage VC firm, founded by Yida Gao in 2021, investing in disruptive blockchain companies. The fund is deeply focused on taking a hands-on approach and working closely with its portfolio companies to provide the most sweat equity per dollar invested. As teams in Web3 push the frontier of innovation, Shima helps hire talent, build community, amplify narratives, and foster the acceleration of technical research and development. Shima is composed of seasoned investors, accomplished operators, and former founders who align on a mission to support all-star teams with building and scaling generational companies. For more https://shima.capital/