According to Thursday’s announcement, Mintable, a non-fungible token (NFT) market backed by Mark Cuban, raised $13 million in Series A funding. Singapore-based Mintable plans to use the funds to expand its products because the application has already minted 700,000 NFTs on the Mintable platform.
NFT Marketplace Mintable raises US$13 million
On July 1, 2021, NFT Market Mintable announced that it has raised $13 million in Series A financing. Investing resources in well-known investors, such as Metapurse, Ripple Labs, Animoca Brands, Metakovan, Bill Clinton’s former advisor Doug Band, and Shutterstock founder Jon Oringer.
Recently, Mintable teamed up with the National Football League (NFL) quarterback Trevor Lawrence to launch the NFT series. Lawrence’s NFT sold for more than US$400,000, Mintable also cooperates with Japanese fashion brand Bathing Ape.
A statement sent by Mintable to Bitcoin.com News explained: “With the injection of new funds, Mintable will focus on expanding its operations and promoting its growth and user acquisition plans.”
In addition, Mintable’s founder and CEO Zach Burks explained in the announcement that non-fungible tokens have received widespread attention, and Mintable’s goal is to mature with the evolving NFT industry. “Through 2021, NFT has reached the attractiveness of the masses, almost touching on entertainment, art, sports and other fields,” Burks said. The founder of Mintable added:
With the continuous maturity of technology and the rapid development of space, this is an important company milestone for Mintable. We thank investors for their support. They share the same belief in the many opportunities that NFT can bring to mainstream users.
Mintable faces fierce competition from various NFT markets
Mintable is not the only NFT market that collects investment funds, because many other NFT companies and markets are taking action in the industry.
On the same day that Mintable announced Series A financing, Animoca Brands revealed that it also completed a $138.88 million financing on Thursday. This funding makes Animoca Brands a unicorn because the company is now valued at $1 billion.
At the end of June, Bitcoin.com news also Report Raised $14.2 million in Series A financing on the NFT market Rarible. In terms of Mintable’s investment, Double Peak Group partner Michael Kam said that his company believes mainstream adoption is important, and Mintable will further promote this goal.
Kam commented: “We believe that the NFT platform attracts non-encrypted users, is user-friendly, and is decentralized in the long run. This is very important.” Since its launch in 2018, in addition to getting investors and TV personality Mark Cuban In addition to the support of Mintable, Mintable also received support from Marc Benioff’s TIME Ventures and Ashton Kutcher’s Sound Ventures.
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Image Source: Shutterstock, Pixabay, Wiki Commons, Mintable,
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