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Appetite for NFT Tech Remains High as Mintable Raises $13 Million

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Agr8buzz
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Mark Cuban backed NFT platform Mintable just raised $13 Million in a Series A round! NFT tech remains hot with venture capital funds champing at the bit for a piece of the action .


No question a digital ownership revolution is taking place right before our eyes.

Despite the macro crypto cycle looking more and more like it's ready to wind down for another long winter, the appetite for NFT technology remains high, and for good reason.

The Winds of Change Are Blowing

There are companies being built right now that will facilitate the sale of assets in ways we can only begin to image. Think big ticket items, planes, trains, automobiles, and real-estate, even commercial real-estate!

Some of the more innovative NFT platforms being built today, at least the ones with the right leadership, may have an opportunity to compete for sales of big ticket items at volumes never seen before.

Sure we may be starting with digital art, sports cards, and in-game assets but this is only V1. This is just a basic use case test, given the security, reliability, transparency, and permanency of blockchain technology you can bet you're bottom dollar it will be used to facilitate the transfer of probably every asset available for sale under the sun that is worth keeping record of.

Venture capital funds around the globe are making this same bet right now.

Mintable Raises $13 Million in Series A Round

Not surprised that Mintable, an NFT platform backed by the likes of a Mark Cuban has garnered massive interest. The raise was even described as "oversubscribed" with a long list of funds looking to participate in the raise.

Contributors include the likes of Rippls, Expedia Group, Double Peak Group, 7 O'Clock Capital, 640 Oxford Ventures, Digital Finance Group, Spark Digital Capital, Reimagined Ventures, 840 Venture Partners, Animoca Brands, Metapurse, and a number of tech start-up founders sitting on cash in need of a new home.

“As the technology continues to mature and the space rapidly evolves, this is a critical company milestone for Mintable and we are thankful for the support from our investors who hold the same shared belief of the many opportunities that NFTs can bring among mainstream users,” CEO Zach Burks said. coindesk.com

https://www.youtube.com/watch?v=oZgobGr77NI

A Lot of Faith in Ethereum

Tech start-ups continue to build on Ethereum, despite its very real struggles to scale. Guess it's not a concern for the money, not a concern for developers and business leaders. I think the bottom line is there's massive money on the Ethereum network, and users behind those wallets also with an appetite for NFT's.

I have to think that the CEO of Mintable Zach Burks is either confident ETH will scale in the next few years, or it's so early it doesn't even matter. If the company can maintain profitability until everything goes mainstream then they've made it.

That or they have cross chain operability in mind, and down the road it won't really matter so much which blockchain the tech was originally built on as it will be designed to work across a large range of compatible networks.

As it stands right now there are already NFT bridges available. As an example HIVE assets from blockchain game Splinterlands can be transferred to WAX, WAX assets can be transferred to ETH, and ETH assets and can be transferred to BSC and Polygon Networks.

I have to think that where these assets are minted is going to matter less and less over the coming years, with assets and value flowing to where the users are.

Ciao for now,

@agr8buzz

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