Mintable, a platform for creating and trading non-fungible tokens has been able to raise $13 million from its funding program. The donated money is however more than what was needed. The Series A financing project of the young firm attracted top names in the industry. Ripple, Metapurse and the likes were amongst the partakers of the event.
Ripple in an official statement said that Mintable intends to employ Ripple’s blockchain technology on its platform. According to the pronouncement by Ripple, its blockchain technology (XRP Ledger) does not raise environmental concerns as it does not emit carbon.
Mintable has the backing of the wealthy Mark Cuban. The platform has added to the growing list of his investments in crypto related firm. During the financing round from where the initial capital for Mintable to be birthed was raised, the billionaire actively participated. This was done in March and yielded $2.5 million for the platform.
Mintable started in 2018 and its minting operations has given rise to 700,000 items over a one-year period. The platform has engaged in sales and auctioneering works of prominent artists and sports stars. Mintable has a distinct quality that allows customers to create NFTs without gas charges.
On its July 1 announcement, Mintable said that the donated money will be used to improve on scalability and other technicalities. The manager of Ripple X, a part of Ripple, said that the firm has made investment in Mintable because they both have the same ideologies as regards affordability and sustainability of NFTs. Towards the end of April, one of the Jacksonville Jaguars’s player sold NFT items on Mintable for more than $400,000.
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