Mintbase, a platform that allows anybody to create their own non-fungible token (NFT) store, received a $7.5 million round of funding today. Coinbase Ventures, Libertus Capital, Sino Global Capital, Animoca Brands, Woodstock Fund, Fundamental Labs, and others led a financing round. The funding will be used to promote NFT activities and grow Mintbase’s operations.
Sino Global, D1 Ventures, Block Oracle Capital, and Arweave were among the investors in a $1 million seed round in late 2020.
The non-profit NEAR Foundation, which is in charge of contracting protocol maintainers and funding ecosystem development on the NEAR protocol, will provide up to $5 million to assist Mintbase’s new pass-through awards program in addition to this series A investment. Mintbase Grants will be looking for skilled teams to build the next generation of web 3.0 ticketing, music, and gaming platforms using the Mintbase developer infrastructure. Minting and trading will be more fun thanks to a new and improved user interface, which will also aid anybody desiring to build on Mintbase’s tools.
The Lisbon-based NFT protocol is building infrastructure and technology to serve specialized NFT marketplaces. Mintbase is a global platform that allows anybody to build NFTs without having to worry about technical difficulties. Artists may use NFTs to sell digital art, musicians can use them to sell music, and event planners can use them to sell tickets to their next event.
“At Mintbase, we believe we’re moving away from large, single NFT markets and toward more autonomous, community-owned NFT marketplaces.” Because they operate with more desired programming languages like Rust and AssemblyScript, sharded WASM chains are the way of the future. “That’s why we went with NEAR,” said Nate Geier, the inventor of Mintbase.
Mintbase launched on the NEAR protocol when NFT minting on Ethereum became too expensive in 2021. Because of the low-cost tokenization of NFTs on a climate-neutral blockchain, creators may now experience substantial NFTs.