MakersPlace: Pantera, Coinbase Ventures & Sony Invest $30M In Series-A Round

MakersPlace is a non-fungible token (NFT) digital art marketplace. This marketplace has recently received US$30 million in “Series A” funding. This further emphasizes the fact that venture capital funds are supporting promising NFT projects. MakersPlace will use this round of financing to expand its business operations and attract more talents while continuing to attract new users and artists to its platform. Bessemer Venture Partners and Pantera Capital were co-leading this investment event. There were extra funds from Sony Music Entertainment, Coinbase Ventures, Uncork Capital, Dragon Digital Assets, and 9Yards Capital. Many well-known business angels also participated in this round of financing that includes big names like Acquavella Galleries, Sabrina Khan, Eminem, and Paul Rosenberg.

MakersPlace was founded in 2018. According to co-founder and CEO Danny Chu, MakersPlace has really played a“central role in sparking the global conversation about NFTs”. He said that the A round of investment will continue to help MakersPlace in “uniting the best digital artists with the most passionate collectors and continue to bring this new medium for creativity and collecting to a mainstream audience.” MakersPlace undoubtedly played a vital role in the spread of NFT after it sourced and minted Beeple’s now-famous “The First 5000 Days” piece. The work was sold for an astonishing US$69.3 million in March.

Paul Veradittakit On MakersPlace

Paul Veradittakit is a partner at Pantera Capital. He said that his company believes that soon these NFTs will be powering the next-gen of digital art and collectibles.

Paul added:

“MakersPlace has formed a top-notch team that has designed a user experience that seamlessly introduces creators and collectors to this new paradigm.”

NFT is one of the most concerning uses of blockchain technology these days. The sales and listing of digital collectibles have grown rapidly this year. As reports say, the NFT market, OpenSea processed more transactions in the most recent day than in the whole of 2020. Joe Lubin is the founder of ConsenSys. In the meantime, he stated that NFTs will soon become the main focus of the Enterprise Ethereum Alliance. The Enterprise Ethereum Alliance is an industry group. This company has its main focus on advancing all the use cases. Thus it aims at collaborating on smart contracts and blockchain technology as much as possible.

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