NFT Marketplace Rarible Closes $1.75M Seed Raise From 1kx, Coinbase Ventures

Written By Joseph Newman

Rarible, a non-fungible token (NFT) marketplace, has raised $1.75 million in funding from investors including 1kx, Coinbase Ventures, ParaFi Capital, and CoinFund. The funds will be used to expand Rarible's decentralized market venue and develop a decentralized autonomous organization (DAO) structure for buying and selling NFTs. The startup aims to create a "Uniswap for NFTs" by providing a decentralized approach to NFT transactions. Rarible currently supports the ERC-1155 and ERC-721 token standards and is also planning to adopt a multi-chain strategy, supporting multiple blockchain networks in the future. The NFT market is experiencing significant growth, attracting attention from artists, creators, and collectors, and Rarible aims to promote and accelerate the experimentation and innovation in this emerging asset class.

#Web3.0 #NFT #Blockchain #Crypto #Cryptocurrency #AI

Joseph Newman
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