Mintable, a next-generation non-fungible token (NFT) minting platform and marketplace secures $13 million in Series A funding round. This platform is also backed by NBA team Dallas Mavericks owner Mark Cuban.
The recent funding round is participated by notable investors like Ripple Labs, provider of XRP ledger developer tools, programs and services and enterprise blockchain solutions; Animoca Brands, a leading mobile and blockchain gaming developer; Metapurse, a crypto-exclusive fund; Jon Oringer, the founder and executive chairman of Shutterstock; Doug Band, former advisor of Bill Clinton. (Read More: What is NFT)
Mintable plans to use the fund to expand its operations and boost its growth and user acquisition initiatives.
According to Zach Burks, CEO and Founder of Mintable, NFTs already touch almost every sector and as its technology continuously matures, it becomes a critical milestone for the company. He also thanked investors who support the funding round and hold the same belief that many opportunities are still waiting in the space.
Further, Michael Kam, Partner at Double Peak Group also gave remarks on Mintable’s continued contribution in the NFT space. “We believe it is important for NFT platforms to attract non-crypto users, be user-friendly and be decentralised in the long run. Under the leadership of Zach (CEO) and Jiawen (COO), we believe Mintable will achieve all of that and become a key player in shaping the future of NFTs.” Michael said.
700,000 NFTs have been minted already on the platform, and Mintable plans to use the fresh capital to further expand the scope of its user acquisition and growth initiatives of Mintable’s individual users and brand clients.
“Our investment in Mintable is a testament to our commitment in furthering the mass adoption of NFTs and DeFi at scale. We are excited to work with the team as they unlock the vast opportunities that NFTs have in store for everyone.” said by Sanda Wu, Managing Director of SkyVision Capital.
Mintable plans to integrate with XRP Ledger (XRPL), which has a built-in decentralized exchange, as it aims to allow creators create and mint NFTs securely and sustainably. The XRPL can put transaction fees down to $0.0004, cheaper than in competing platforms. ‘We couldn’t be more excited to work with our friends at Mintable to provide creators and developers with a best-in-class experience and bring more participants into the blockchain ecosystem with NFTs,” Ripple said in a blog post.
Founded in 2018, Mintable implements a unique gas-free minting feature which allows users to create their NFTs, enabling creators to fully benefit from what NFTs have to offer without being burdened by prohibitive transaction fees. Recently, Mintable worked with NFL Jacksonville Jaguars quarterback Trevor Lawrence whose NFT collection sold on the platform for over $400,000, leading streetwear fashion brand BAPE, and American business broadcaster CNBC which recently raised $100,000 for charity via a Mintable NFT auction.
This article is published on BitPinas: Mintable Secures $13 million In Series A From Animoca Brands, Ripple, Mark Cuban