Rarify receives $ 10 million in the series A listed by Pantera Capital for further settings
Rarify receives $ 10 million in the series A listed by Pantera Capital for further settings
- rarify wants to reduce the entry barriers for companies that enter the NFT market for the first time
- These obstacles include blockchains that lack interoperability while they have platform-specific economies, as well as companies that are not familiar with compliance standards
The infrastructure startup Rarify for non-fungible tokens (NFT) has secured $ 10 million via a series A led by Pantera Capital.
The fresh capital injection is used according to a press release on Thursday for the startup's settings and for product launches with company partners.
The increase in which Slow Ventures, Eniac Ventures, Greycroft and Hyper participated has increased the company's assessment to $ 100 million.
The Rarify series is the latest round, which follows seed financing of $ 2 million, in which Pareto, Eniac Ventures, Greycroft, Scott Belsky and Protocol Labs were involved.
rarify offers a Commerce API infrastructure for marketplaces and applications to build “end-to-end experiences” with NFTs, the startup said in its publication.
rarify also said his mission was to reduce entry barriers for NFT technology and to enable “participation” in a sector that records considerable growth.
Problems for new business people in the industry arise when they are trying to build NFTs for the first time that require special technical resources and skills, said the startup.
blockchains that lack interoperability while they have platform-specific economies, as well as companies that are not familiar with compliance standards, were some of the greatest hurdles for newcomers.
"Rarify eliminates the largest hurdles that companies face in their existing products when introducing NFTs." said Pantera partner Paul Veradittakit. "We are happy to work with the Rarify team to accelerate its growth course and generally make NFTs accessible to companies and thus also for consumers."
rarify also offers real-time API access to historical data on NFT assets via “several blockchains” that can be used by web2 and web3 companies that develop defi marketplace products.
"With NFT Embeds, creators of content can simplify the entire search and checkout process for end users," said the startup.
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The Rarify contribution receives $ 10 million in Serie A under the direction of Pantera Capital for further settings.
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