Rarible has become a de-facto starting place for NFT artists with naerly 29,000 unique collectors and $30 million in volume. Additionally, Rarible launched the $RARI token during the summer with the goal of providing a new layer for truly decentralized art markets.
Today, It has been announced that Rarible received nearly $2m in seed funding and according to Rarible’s medium account, “The round is led by 1kx, who is joined by ParaFi Capital, Coinbase Ventures, Rarible’s pre-seed investor CoinFund, MetaCartel Ventures, and Bollinger Investment Group. The group of angels in the round include Loi Luu, Michael Dunworth, Donna Redel (NY Angels) among them.”
This round shows the maturation and excitement growing around Rarible and the NFT space in general.
Are gas prices becoming prohibitive to NFT artists?
The first question we have for Rarible is how this seed round will impact the market place as a whole. Some Marketplaces like NiftyGateway don’t mint the art until sale, meaning the Gas prices is incurred in a completely different way than marketplaces like Rarible. We speculate (and could be wrong) that part of this money will shore up their infrastructure both through the RARI token, but most importantly, Keeping the creation of NFT art accessible to all artists.
If Rarible can deliver on this promise, they are going to have an amazing 2021.
Read their release here.
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