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Rarify said it had raised $10 million in a Series A funding round led by Pantera Capital. Other investors included Eniac Ventures, Greycroft, Hyper and Slow Ventures. The organization’s business was valued at $100 million.
The firm said the funds raised will be used to expand its workforce and launch new products targeted at corporate partners. Management stressed that Rarify will help third parties integrate non-fungible tokens (NFTs) into their own platforms.
Pantera partner Paul Veraditakit assured that investing in this startup was a far-sighted decision. Rarify aims to eliminate the most negative issues that companies face when implementing NFTs in their products. Cooperation will accelerate the development of the NFT sector and make digital art more accessible to companies and their customers.
Right now, Rarify’s founders are busy refining an Application Programming Interface (API) platform that allows organizations to create, manage, and scale their own NFTs and greatly simplifies the process of integrating them.
This solution is available for any commercial infrastructures, trading platforms and decentralized applications. Developers of companies get the opportunity to interact with non-fungible tokens created on the basis of various blockchains. Many investors expressed their confidence that the Rarify startup will make a significant contribution to the development of the non-fungible token industry and allow many small organizations to provide improved products for customers.
Earlier, the Crypto.ru editors reported that the American trading platform Coinbase planned the integration of NFT tokens created on the Tezos platform. They will be added to the functionality of the new marketplace.
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