Manifold
Manifold makes no-code tools letting NFT creators deploy and self-publish their own smart contracts.
On the record
Checkpoint: Confirmation (or non-confirmation) of the reported Series A round and any headcount change signaling runway pressure
The call
Manifold built real plumbing creators rely on, but its fee model rides NFT volumes that keep shrinking, and Zora is angling to become the new standard instead.
Manifold built software that helps creators get paid fairly when their digital art is resold across different NFT marketplaces. The company has real advantages: six major marketplaces agreed to use Manifold's standard, and big-name creators rely on it. However, NFT trading has dropped sharply over several years with no signs of bouncing back, so Manifold's business is smaller than it was. A rival called Zora is building its own cross-marketplace system and could pull creators away. The biggest question is whether Manifold can raise new funding soon and whether NFT trading volumes ever recover, because without either one, the company will slowly run out of money despite being well-run and lean.
Why
01
AI pressure: None apparent. AI models don't compete for NFT contract deployment, this fight is about crypto protocols and marketplaces, not AI agents. Could AI do the core job? Only partly.
02
Bigger players: Zora. Zora's L2 and token push to become the neutral cross-marketplace standard, pulling creator contracts upstream from Manifold's fee stream. Could a giant copy it? Probably.
03
What protects it. Royalty Registry standard co-built with six major marketplaces plus audited Creator Core contracts already used by marquee creators like Jay-Z and Pak.
What would change this call
Confirmation or denial of Manifold's rumored July 2025 Series A appears in primary press (not just Caplight). Shows whether Manifold has fresh capital to survive continued NFT volume decline.
Manifold's headcount, currently 18 to 20, drops below that range in company listings. Would signal runway pressure or funding shortfall despite lean operations.
Marquee creators (e.g. Pak, Refik Anadol, 6529) launch new collections primarily via Zora instead of Manifold Studio. Would show Zora capturing the creator distribution that underpins Manifold's fee moat.
Manifold's headcount, currently 18 to 20, drops below that range in company listings. Would signal runway pressure or funding shortfall despite lean operations.
Marquee creators (e.g. Pak, Refik Anadol, 6529) launch new collections primarily via Zora instead of Manifold Studio. Would show Zora capturing the creator distribution that underpins Manifold's fee moat.
Key numbers
- Team flat at 18-20 people since 2023
- a16z crypto AUM down 40% since 2024
- Per-mint fee ~0.00069 ETH, unchanged since 2023
Named risks
- Revenue model tied to per-mint fees while NFT trading volumes stay in multi-year decline with no recovery signal.
- Reported July 2025 Series A remains unconfirmed by primary press amid a16z crypto AUM down about 40 percent.
- Zora's token launch and protocol growth could pull creator contracts upstream from Manifold.
- manifold.xyz flagged with a 35 out of 100 trust score by a security scanner as of March 2026.
- No public revenue or customer count data disclosed for 2025 to 2026, limiting visibility into traction.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| Zora | gaining on | Launched ZORA token April 2025, positioned as possible neutral cross-marketplace standard |
| OpenSea | contesting | Shipped its own creator-owned NFT contract deployment tooling as of July 2026 |
| Fair.xyz | contesting | Listed by CB Insights as a direct competitor NFT launch platform, no.d. |
| Mojito | contesting | Listed by CB Insights as a direct competitor web3 loyalty and engagement platform, no.d. |
Questions people ask
- Is Manifold.xyz profitable in 2026?
- Manifold does not publicly disclose revenue or profitability figures as of June 25, 2026. Its business model relies on a small flat per-mint fee (about 0.00069 ETH per token in 2023) charged to buyers, while contract deployment and minting stay free, leaving no confirmed profit data.
- Could AI replace Manifold.xyz's no-code contract deployment tool?
- The no-code deployment wizard and UI templates are the part of Manifold most exposed to AI code-assistants, which could replicate basic ERC-721/1155 boilerplate. Its audited Creator Core contracts and the Royalty Registry standard, co-built with six marketplaces, are harder to replicate since they depend on trust and multi-party agreements, not just code.
- Who founded Manifold.xyz and when?
- Manifold.xyz was founded in January 2021 in Vancouver, British Columbia, by Wilkins Chung, Richerd Chan, and Eric Diep. The company builds no-code tools letting NFT creators self-publish and own their smart contracts rather than depend on a marketplace's shared contract.
- Who is Manifold.xyz's biggest competitor?
- Zora, an onchain media protocol and Layer 2 that launched its ZORA token in April 2025, is the closest competitive threat, potentially becoming a neutral cross-marketplace standard that pulls creator contracts upstream from Manifold. Fair.xyz and Mojito are also listed as direct competitors by CB Insights.
- Did Manifold.xyz raise new funding after its 2021 seed round?
- Manifold closed a $7.9 million seed round in August 2021 from a16z crypto and Initialized Capital, per Decrypt on October 5, 2021. A later Series A dated July 28, 2025 appears only on a data aggregator site with no independent press confirmation as of mid-2026.
- How does Manifold.xyz make money?
- Manifold charges a small flat, gas-like fee to buyers on Manifold-minted apps, around 0.00069 ETH per token as of a February 2023 company forum post, while contract deployment and studio minting remain free for creators, who keep 100% of primary sale proceeds.
Timeline
- 2026-04-16Report says major crypto VCs including a16z crypto saw AUM fall roughly 40% in 2024 to 2025
- 2026-03-30Gridinsoft scanner flagged manifold.xyz as suspicious with a 35 out of 100 trust score
- 2025-07-28Unconfirmed Series A round for Manifold appears on data aggregator Caplight, no primary source
- 2025-07-22Manifold launched Studio Profiles, aggregating creator work across marketplaces at manifold.xyz handles
- 2025-04-15Manifold Studio documented as interoperable with OpenSea, Rarible, Foundation, SuperRare, Nifty Gateway, Zora
- 2025-04Zora, a competing onchain media protocol, launched its ZORA token
- 2023-02-02Manifold forum post detailed its per-mint fee model of about 0.00069 ETH per token
- 2021-08Manifold closed a $7.9 million seed round from a16z crypto and Initialized Capital
- 2021-01Manifold founded in Vancouver by Wilkins Chung, Richerd Chan, and Eric Diep
Revision history
21 July 2026
First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- LinkedIn, Facebook (Wilkins Chung profile)
- What is Manifold Studio? (2025-04-15)
- Manifold Announces Verified NFT Studio, Funding from a16z and Initialized (2021-10-05)
- Valuation, Funding Rounds & Stock Price (2025-07-27)
- How does Manifold make money? (2023-02-02)
- Manifold
- What is the Manifold NFT Platform? (2023-07-28)
- manifold.xyz Careers, Perks + Culture
- manifold.xyz Overview, Address & Contact (2023-01-18)
- Introducing Studio Profiles (2025-07-22)
- Manifold Plans Pricing, API Pricing Plans
- What Is Zora? Onchain Media Protocol and ZORA Token (2026-05-26)