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NFTMart, Polkadot’s First NFT Trading Platform, received $1.5 Million in Private Equity Funding
Recently, NFTMart.io, Polkadot’s first NFT trading platform, announced that it has raised PE funding of $ 1.5 million. Investors are Block Dream Fund（OKEx）, Bixin Ventures, Spark Digital Capital, Signum, ParticleXYZ, Lancer Capital, BML, Ti Capital, PrimeBlock Ventures,Capstone Group, Biki, DMG, Collinstar Capital, Winning Capital, Kernal, SnapFingers Research, Symbol Capital, Oasis Capital, 7 O’Clock Foundation, EncryptClub, Searchlight Capital, Newave Capital, 499block, and Prometeus Labs. It is an important achievement following the seed funding last month. Among the seed funding investors, PAKA and LD continued to support the project in the private funding round.
The funding consists of two rounds. The first round raised $960,000 accounting for 8% of the total tokens, which is estimated to be worth around 12 million; and the second round raised $540,000 accounting for 3% of the total tokens, which is estimated to be worth around 18 million. Most of the tokens are going to be locked, and only 20% of the tokens will be unlocked before circulation. After the project is launched, 20% will be unlocked every quarter and will be completely unlocked in 4 quarters.
NFTMart is committed to establishing its own public chain to transact NFTs and provide NFT owners and traders with a more professional and convenient trading system. With the Substrate’s feature of no forking, it is able to optimize the on-chain business, and meanwhile, solve the current difficult problem of transactions – high transaction fees. NFT owners and traders are able to access NFT platforms to the greatest extent.
NFTMart has now signed cooperation agreements with more than 10 art institutions and individuals. It will become a trading platform where users can access all NFT assets, which means institutions and investors will be able to access more NFT assets and artists. Meanwhile, young artists will also have more opportunities to show their works to a wider audience and raise awareness and profit from them.
According to the schedule, NFTMart will launch the Testnet in April, and the public beta platform in June. The project has carried out comprehensive promotion and implementation. Welcome to join the NFTMart Telegram community for more details: https://t.me/NFTmart.
NFTmart is committed to becoming the world’s most professional NFT decentralized trading market. It is divided into two parts. The first part nftmart.network (http://nftmart.network/) is an open and decentralized NFT public chain, which is mainly used for the issuance of NFT products and transaction data on the chain. The second part provides friendly transaction scenarios for the nftmart.io website. For users to upload or trade NFT conveniently and quickly. NFTmart is a development based on a substrate architecture, which is naturally combined with Polkadot’s cross-chain ecology. The entire network cross-chain model will bring unlimited possibilities for NFT trading.
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