Defi Marketplace and NFT Platform Arcade collect $ 15 million in Serie-A financing round-Finance

The decentralized financial marketplace (Defi), the financialization platform for non-fungible tokens (NFT) and the credit application Arcade have announced that the company has completed a series-A investment round of over $ 15 million. Arcade recently enabled an on-chain loan of $ 800,000 against an NFT portfolio from a lender with over $ 10 billion.

Arcade procures $ 15 million in Serie A under the co-management of Pantera Capital, Castle Island Ventures, Franklin Templeton Blockchain Fund

The Defi marketplace Arcade has taken up $ 15 million in capital during a series-A financing round. The investment was headed together by Pantera Capital, Castle Island Ventures and the Franklin Templeton Blockchain Fund. In addition, Lemniscap, Eniac Ventures, probably Nothing Capital, Protofund and Golden Tree Asset Management took part in the financing of Arcade.

arcades milestone-on-chain-loan of $ 800,000 is part of the “total loan volume of $ 3.3 million, which was secured during the private release of Arcade, with the total value of the assets awarded to Arcade,” says Arcade. While Arcade is fully compatible with a variety of ERC20 token, the project also offers a proprietary wrapped NFT technology.

“[Wrapped NFT] enables several NFT assets to be bundled and used to acquire a single loan, which enables the acquisition of larger loans and greater liquidity,” describes the financing announcement of Serie A. "As an open source defi primitive, Arcade will also enable developers to build on the platform and thus support the wider use of this new investment class."

Lauren Stephanian from Pantera Capital said that the company was looking forward to the potential of Arcade. "The conservation of this new investment class by Arcade will create incentives for the participation of new companies from the traditional and digital art and financial world, including institutional lenders, wealthy private individuals, DAOS, companies with NFTs in their balance sheets and NFT collectors." and Creator, ”added Stephanian.

What do you think that Arcade spends $ 15 million in a Serie A financing round? Let us know your opinion on this topic in the comments below.

Jamie Redman

Jamie Redman is News Lead at Bitcoin.com News and a Finanztech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com news about the disruptive protocols that arise today.

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