Bitcoin News and Finance
NFT Infrastructure Provider Rarify Gets $10 Million Investment in Series A Funding Round Led by Pantera Capital Skip to main content

NFT Infrastructure Provider Rarify Gets $10 Million Investment in Series A Funding Round Led by Pantera Capital

rarify

Rarify, a startup that helps third parties include NFT elements in their tech platforms, has raised $10 million in its Series A funding round. The round was led by Pantera Capital, a leading cryptocurrency-based venture capital firm. The company has now reached a reported valuation of $100 billion amidst the rise in popularity NFTs are experiencing in different fields including gaming and metaverse applications.

Rarify Raises $10 Million, Plans Expansion

Rarify, a company that deals with producing infrastructure for third parties to integrate NFT services, has raised $10 million in its recent Series A funding round. The round, which led Rarify to reach a valuation of $100 million, was led by Pantera Capital with the participation of other companies, including Eniac Ventures, Greycroft, Hyper, and Slow Ventures.

Rarify aims to simplify the whole process of creating and selling NFTs in the same way that “Square made it super easy to accept payments,” according to statements given by its co-founder Revas Tsivtsivadze. The company will use the funds raised in the funding round to start hiring more aggressively and launch NFT products with corporate partners.

Pantera partner Paul Veradittakit stated:

Rarify removes the biggest hurdles companies face when introducing NFTs to their existing products.

He further explained that Rarify’s solutions could “make NFTs accessible to companies and, by extension, consumers at large.”

Fueled by NFT Growth

Rarify’s new funding round is the product of the growth of the NFT market and the applicability of NFTs in several industries, including art and gaming. While some still criticize the validity of these tools, there is a sizable market behind them, with one of the main NFT markets, Opensea, having crossed the $20 billion all-time sales mark last month.

Traditional gaming companies are also experimenting with adding NFT support to their products. This is the case for Ubisoft, which created its own NFT market called Quartz. Rarify’s goal is to get to these companies adding NFTs into their business models, offering solutions so “that teams don’t need to stitch together disparate systems or spend months integrating blockchain technology,” according to the mission described on its website.

The seed funding round of the company managed to raise $2 million dollars in September. Jon Oringer, the founder of Pareto and Shutterstock, who also participated in that round, stated:

Opportunity is best harnessed by early movers and Rarify makes NFT feasible for more companies than ever before possible.

What do you think about Pantera Capital’s investment in Rarify? Tell us in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory