As a result of the over-subscription financing round, the platform and the market value of non-Fungible Mint (NFT) reached $ 13 million.

Singapore Startup’s Series A funding round was attended by several notable contributors, including Ripple, mobile gaming and blockchain developer Animoca Brands, and Metapurse, the world’s largest investment fund NFT.

Ripple announced that Mintable plans to integrate the company’s blockchain, XRP Ledger (XRPL), as it is already carbon neutral and “perfect for keeping NFT steady.”

“The environmentally friendly features make it possible to concentrate, buy and transfer billions of NFTs to XRPL.”
Mintable, which is currently an Ethereum-based platform, is among the cryptocurrency investments in the growing portfolio of Dallas Mavericks owner Mark Cuban. The billionaire investor previously participated in the first round of Mintables $ 2.5 million in March.

The platform was launched in 2018 and has created over 700,000 items over the past year, creating an ever-growing catalog of unique items such as digital art, music, collectibles and items in the game.

Mintable has sold and sold the work of many Grammy-winning artists, renowned artists, celebrities and sports professionals, and has implemented a unique gas-free coin feature that allows users to create their own NFTs without the burden of high network fees.

In an announcement on July 1, Mintable said they will use the funds to focus on expanding the business and running growth and user engagement initiatives.

Monica Long, CEO of RippleX at Ripple, said she invested in Mintable because of a shared vision of cost-effective and sustainable NFTs:

“Accelerating growth in this innovative economy begins with infrastructure that removes barriers to entry, such as the high gas taxes and environmental costs of setting up an NFT, which many face today.”
Related: New technology allows crypto users to prove the presence of NFTs

In late April, NFL Jacksonville Jaguars quarterback Trevor Lawrence sold his NFT collection on the runway for more than $ 400,000. In March, NFT, which represents 50% of the St. Louis home, was auctioned off on the Mintable platform.

Source: CoinTelegraph