NFT minting platform Mintable raises $13 million in funding round

The Mintable non-fungible token (NFT) minting platform and marketplace raised $13 million in its recent oversubscribed funding round.

Big industry names such as Ripple, mobile and blockchain gaming developer Animoca Brands and the world’s largest NFT investment fund Metapurse, are just some of the participants during the successful Series A fund that granted the Singapore-based start-up of millions of dollars.

In a related announcement that was sent out by Ripple, it was said that Mintable has plans of integrating the company’s own blockchain, XRP Ledger which is already carbon neutral and “ideally suited to deliver a seamless experience for NFTs.”

Part of billionaire Mark Cuban’s portfolio

The NFT minting platform, which is currently Ethereum-based, is among a number of crypto-related investments that are part of the growing and expanding portfolio of billionaire and NBA team Dallas Mavericks owner Mark Cuban.

It can be recalled that during Mintable’s seed round back in March, Cuban poured money into the project, contributing to the $2.5 million haul of the venture.

Launched in 2018, Mintable has already minted over 700,000 items over the past year to establish a growing catalog of unique items like digital art, music, collectibles and gaming items.

Funds for growth

On July 1, Mintable announced it will utilize the funds it needed during the fundraising round in scaling its operations and boosting its growth and user acquisition initiatives.

Meanwhile, Monica Long, general manager of RippleX, said she has invested in the project as it shares her vision of cost-efficient and sustainable NFTs.

“Accelerating the growth of this creator economy starts with an infrastructure that removes the barriers to entry such as high gas fees and environmental costs of creating NFTs,” Long said.

Image courtesy of Cointelegraph News/YouTube

Source: https://bitcoinerx.com/blockchain/nft-minting-platform-mintable-raises-13-million-in-funding-round/