Mintable, a Singapore-based next-generation non-fungible token (NFT) minting platform and marketplace, announced today the closing of its oversubscribed Series A funding round at US$13 million.
The round saw participation from notable names, including Ripple (provides XRP Ledger developer tools, programmes and services, and enterprise blockchain solutions); Animoca Brands (mobile and blockchain gaming developer); Metapurse (NFT investment fund backed by Metakovan); Doug Band (American businessman and former advisor to Bill Clinton), and Jon Oringer (founder and executive chairman of Shutterstock).
Other co-investors are John Kim (Expedia Group), Double Peak, 7 O’Clock Capital, 640 Oxford Ventures, Digital Finance Group, Spark Digital Capital, Reimagined Ventures, and 840 Venture Partners.
The proceeds of the investment will be used to spearhead user acquisition and growth initiatives for Mintable’s individual users and brand clients.
Mintable will continue to develop and launch new products to deliver on its mission of making the buying and trading experience of NFTs as easy and accessible as possible for the mass market.
Mintable founder and CEO Zach Burks said: “Throughout 2021, NFTs have reached mass appeal and have touched almost every sector spanning entertainment, fine arts, sports, and many more. As the technology continues to mature and the space rapidly evolves, this is a critical company milestone for Mintable.”
Started in 2018, Mintable is a minting platform built on the blockchain. Its “gas-free minting feature” allows users to create their NFTs, enabling content creators to fully benefit from what NFTs have to offer without being burdened by prohibitive transaction fees.
Since its inception, Mintable said it has established a growing catalogue of unique items, spanning digital art, music, collectibles, game items, and domains for sale on its platform.
To date, Mintable has worked with brands, celebrities, and artists looking to kickstart their NFT journey. Most recently, the startup worked with NFL Jacksonville Jaguars quarterback Trevor Lawrence, whose NFT collection sold on the platform for over US$400,000; leading streetwear fashion brand BAPE; and American business broadcaster CNBC, which recently raised US$100,000 for charity via a Mintable NFT auction.
To date, approximately 700,000 items have been minted on its platform.
The company’s existing investors include renowned American venture capitalist and television personality Mark Cuban; Guy Oseary and Ashton Kutcher’s Sound Ventures; Marc Benioff’s TIME Ventures; Crypto.com; and LongHash Ventures.
HashMix is another Singaporean startup that aims to further democratise and activate the mining economy by introducing a decentralised universal marketplace for various mining capacities using the NFT technology. In May this year, it raised US$3 million from HashKey Capital, Kenetic Capital, GBV Capital, FBG Capital, LongHash Ventures, Continue Capital, SevenX Ventures, and Fenbushi Capital.
Image Credit: Mintable
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