Mintable platform raises 13 million US dollars, will integrate XRPL to provide “carbon neutral” NFT

A round of oversubscription financing allowed the non-fungible token (NFT) minting platform and market Mintable to raise $13 million.

Some of the well-known participants in the Singapore start-up’s Series A financing include Ripple, mobile blockchain game developer Animoca Brands, and the world’s largest NFT investment fund Metapurse.

Ripple issued a statement stating that Mintable plans to integrate Ripple’s own blockchain XRP Ledger (XRPL). Ripple said that XRP Ledger is already carbon neutral and “very suitable for providing a seamless NFT trading experience.”

“Its environmentally friendly features will allow billions of NFTs to be mined, purchased and transferred on XRPL in a sustainable manner.”

Mintable is currently an Ethereum-based platform and is one of many cryptocurrency-related investments in the portfolio of Dallas Mavericks owner Mark Cuban. The billionaire investor participated in Mintable’s $2.5 million seed round in March.

The platform was launched in 2018 and has minted more than 700,000 items in the past year, allowing it to build a growing catalog of unique items such as Crypto art, music, collectibles, and game items.

Mintable has sold and auctioned the works of a number of Grammy Award-winning artists, well-known artists, celebrities and sports professionals, and launched a unique no-gas-fee coinage feature that allows users to create their own NFT without paying high The amount of network fees.

On July 1, Mintable stated in a statement that it will use the funds to expand its business scale and promote growth and user acquisition plans.

Monica Long, general manager of Ripple’s developer platform RippleX, said that the reason why they invested in Mintable is because they share a common vision for low-cost, sustainable NFTs:

“To accelerate the growth of this creator economy, we must first establish infrastructure and eliminate barriers to market entry, such as high gas costs and the environmental cost of creating NFTs. These are the problems that many projects face today.”

At the end of April, Jacksonville Jaguars quarterback Trevor Lawrence sold an NFT series on the platform for more than $400,000. In March of this year, an NFT representing 50% of a property in St. Louis was auctioned on the Mintable platform.

Leave a Reply
Related Posts