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Mark Cuban–Backed NFT Marketplace Mintable Raises $13M
The funding will be used to scale the company’s operations and boost its growth and user acquisition initiatives.
Mintable – the non-fungible tokens (NFT) marketplace backed by billionaire celebrity Mark Cuban – has raised $13 million in a series A funding round from investors, including digital asset issuer Ripple.
STORY CONTINUES BELOW
- Mintable said the round was oversubscribed. Investors also included Animoca Brands, Metapurse, the NFT investment fund backed by crypt enthusiast MetaKovan, Jon Oringer, the founder and executive chairman of Shutterstock, and Doug Band, a founding partner of investment bank Teneo.
- The funding will be used to scale Mintable's operations and boost its growth and efforts to gain more users.
- NFTs are digital assets that represent a wide range of unique tangible and intangible items, from collectible sports cards to virtual real estate and even digital sneakers.
- Ethereum NFT marketplaces such as Mintable, OpenSea and Rarible are popular for digital collectibles.
- “As the technology continues to mature and the space rapidly evolves, this is a critical company milestone for Mintable and we are thankful for the support from our investors who hold the same shared belief of the many opportunities that NFTs can bring among mainstream users,” CEO Zach Burks said.
- Other investors in the round included Expedia Group, Double Peak Group, 7 O'Clock Capital, 640 Oxford Ventures, Digital Finance Group, Spark Digital Capital, Reimagined Ventures and 840 Venture Partners.
Read more: Twitter Gives Away 140 NFTs Through Rarible
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
