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Rarify helps companies integrate non-fungible tokens into their platforms.
Rarify, which offers infrastructure to help companies add non-fungible tokens (NFTs) to their platforms, has completed a $10 million Series A funding round led by crypto investment firm Pantera Capital at a $100 million valuation. Other investors included Eniac Ventures, Greycroft, Hyper and Slow Ventures.
The funding will be used to accelerate hiring and product launches with enterprise partners.
“Rarify removes the biggest hurdles companies face when implementing NFTs into their existing products,” Pantera partner Paul Veraditakit said in a press release. “We are excited to partner with the Rarify team to accelerate their growth trajectory and make NFTs accessible to businesses and, by extension, consumers in general.”
Rarify aims to offer an Application Programming Interface (API) platform that allows companies to build, manage and scale NFT products with easy integration.
Rarify currently offers a commercial API framework for marketplaces and applications to build end-to-end NFT capabilities.
The company also provides real-time API access to historical data for NFT assets on multiple blockchains that companies can use to build decentralized finance and marketplace products.
“The opportunity is best used by early adopters and Rarify makes NFT available to more companies than ever before,” said John Oringer, founder of Pareto and Shutterstock. In September, Pareto entered Rarify’s $2 million seed round.
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