With new funding, Mintable will be focusing on scaling its operations and boosting its growth and user acquisition initiatives.
Ripple is investing in Mintable, a Singapore-based marketplace for non-fungible tokens in a series A funding round that secured $13 million in total with other investors, to expand its platform support for more blockchains.
The round also saw participation from notable names including mobile and blockchain gaming developer Animoca Brands, NFT investment fund Metapurse, founding partner and former president of Teneo Doug Band and Shutterstock co-founder Jon Oringer, Mintable said in an announcement on Friday.
Mass Appeal
«Our investment in Mintable is a testament to our shared vision for cost-efficient and sustainable NFTs to enable profitability for creators and mainstream accessibility to crypto,» Monica Long, GM of RippleX at Ripple, said in the announcement.
In 2020 alone, consumers spent $54 billion on NFTs, Ripple said in the announcement, noting the potential of NFTs to accelerate the creator economy, inspire new business models and open access to broader participation in the modern financial system.
The platform itself has seen immense growth in the past year, with approximately 700,000 items now minted on its platform, including collaborations with NFL quarterback Trevor Lawrence, Japanese streetwear brand BAPE, and American business broadcaster CNBC.
