The NFT platform Mintable has received $ 13 million in Series A funding and will be integrated into Ripplen’s XRP Ledger blockchain.
Singapore-based Mintable announced July 1, that it will use the funds to expand its operations, promote growth and user acquisition, and develop and bring new products to market. Investors include Ripple, NFT mutual fund Metapurse, Animoca Brands and Shutterstock CEO Jon Oringer.
Mintable is the first company in the industry to introduce a unique gas-free coin financing feature that allows users to create their own NFT, allowing content providers to take full advantage of what the NFT has to offer without being burdened by high transaction fees.
Ripple noted that the NFT market is a market with long-term potential. Only in 2020 did consumers spend $ 54 billion on non-refundable tokens (NFTs).
Mintable integrates with XRP Ledger (XRPL), a distributed exchange (DEX), which has inherent performance benefits and is built-in to enable authors to sell their works safely, sustainably and efficiently.
XRPL consumes only about 790,000 kWh per year and is already carbon neutral, which is much more efficient than a workload network that consumes about 66 TWh of energy per year, stating that:
“Its environmentally friendly features allow billions of NFTs to be captured, purchased and transferred to XRPL in a sustainable manner.”
RippleX CEO Monica Long said:
“NFTs have spawned efficient new business models for creators. Accelerating the growth of this creator’s economy begins with infrastructure that removes barriers to market entry – such as high gas tariffs and the environmental costs of creating NFTs – that many face today. NFT services that enable content providers to be profitable and have access to encryption. “
Mintable is a non-exchangeable token (NFT) marketplace based on the Ethereum block chain, launched in 2018. Currently, the platform covers about 700,000 products, including digital art, music, collectibles, gaming products and domain names.
Image source: Shutterstock