NFT Marketplace Rarible Raises Over $ 14 Million And Plans To Launch On The Flow Blockchain – Bitcoin News

The non-fungible token (NFT) marketplace, Rarible, announced that the company raised $ 14.2 million in a Series A funding round. Rare details that the funds will be used to bring NFTs into the mainstream and integration with the consumer-facing blockchain called Flow announced.

Rarible raises $ 14.2 million in Series A funding

On Wednesday, NFT marketplace Rarible, a protocol for creating, selling, and collecting non-fungible, blockchain-based collectibles, revealed that the organization has raised more than $ 14 million. The Series A funding round was led by Venrock, Coinfund and 01 Advisors, and the project also announced that it will soon introduce an NFT market on the blockchain flow.

The Flow project was developed by the creators of Cryptokitties and has featured well-known brands such as UFC, Dr. Suess, Ubisoft, Samsung, Warner Music Group and the National Basketball Association (NBA) shaped with its technology.

Since its inception in 2020, the Rarible marketplace has seen $ 150 million in NFT sales and Rarible’s trading volume has grown 3,000 times. In addition, well-known luminaries have created NFT collectibles in the rarible marketplace, including celebrities like neo-pop visual artist Richard Orlinski, boxer Floyd ‘Money’ Mayweather Jr., actress Lindsay Lohan, billionaire Mark Cuban, the hip -Hop star Tyga, American rapper Bhad Bhabie, and multi-platinum Puerto Rican singer-songwriter Ozuna.

“Just as we have always been at the forefront of the NFT movement, Rarible is determined to drive the next wave,” said Rarible Marketplace Co-Founder and CEO Alexei Falin. “With this corporate milestone we are grateful for the support from Venrock, 01 Advisors and Coinfund and look forward to going beyond the current closed crypto environment and bringing NFTs into mainstream awareness.”

Coinfund expects great growth in the NFT area, and competition in the NFT marketplace has intensified significantly

Coinfund CEO Jake Brukhman believes Rarible will continue to be ahead of the curve when it comes to expanding the NFT sector. David Pakman, Partner at Venrock, expects “huge growth in the NFT space as more individual creators, musicians, brands, digital artists and influencers recognize the value of digital collectibles and peer-to-peer transactions on platforms like Rarible become more popular become.”

Rarible has a large number of competitors in this space who also offer NFT marketplaces. The competition includes NFT market activities such as Superfarm, Hic et Nunc, Makers Place, Nifty Gateway, Ethernity, Hoard, Enjin, Fansforever and Opensea. Data from Dune Analytics shows that Rarible made over $ 12 million in 30-day volumes and $ 54,963 in the last seven days. Rarible’s average purchase price for an NFT on the platform is around $ 704 per collectible.

What do you think of the Rarible marketplace raising over $ 14 million? Let us know what you think on this matter in the comments below.

Tags in this story

01 Consultant, Alexei Falin, Bhad Bhabie, Celebrities, Coinfund, Competition, Enjin, Ethernity, Fansforever, Floyd ‘Money’ Mayweather, Fundraising, Hic et Nunc, Hoard, Jake Brukhman, Lindsay Lohan, Makers Place, Mark Cuban, Nifty Gateway, Opensea, Ozuna, Rarible, Rarible CEO, Rarible Series A, Richard Orlinski, SuperFarm, Tyga, Venrock

Photo credits: Shutterstock, Pixabay, Wiki Commons

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source https://bidsfor.me/nft-marketplace-rarible-raises-over-14-million-and-plans-to-launch-on-the-flow-blockchain-bitcoin-news/

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