SuperRare, a marketplace for non-fungible tokens (NFTs), has raised $9 million from seasoned investors like billionaire Mark Cuban. With its new funds, SuperRare will develop a mobile application dedicated to non-fungible tokens.
SuperRare platform raises $9 million
SuperRare, a platform offering a marketplace for non-fungible tokens (NFTs), has just raised $9 million as part of its Series A funding round. Velvet Sea Ventures and 1confirmation.
Many other investors also participated in this fundraising, including Samsung Next (the venture capital arm of South Korean giant Samsung), Mark Cuban (billionaire and businessman), Ashton Kutcher (actor and investor), Marc Benioff (CEO of Salesforce), and Chamath Palihapitiya (billionaire and businessman).
Asked about his interest in SuperRare by Fortune media outlet , David Lee, who runs Samsung Next, said: “When we see more and more builders and developers in a field like digital art, we are excited about what the future could look like and how Samsung could contribute to it. “
Interestingly, most SuperRare investors already had a foothold in the world of NFTs, as they also participated in recent fundraisers from the OpenSea platform and blockchain startup Dapper Labs.
What development objectives for SuperRare?
Appreciated for the quality of the works offered for sale on its marketplace, SuperRare does not work like other platforms in the NFTs sector. With SuperRare, it is only possible to exchange unique and one-time edition digital artwork where a creator can usually create as many copies as they want on other platforms.
“You can think of SuperRare as the meeting point between Instagram and Christies. A new way of interacting with art, culture and collecting on the Internet”can be read on the site.
With its new funds and as a first step, SuperRare will expand its team to extend the platform’s basic functionalities to more scalable social elements, such as chat and personalized feeds. As a second step, SuperRare wishes to push back the current limits established by market mechanisms and auction functionalities and extend the formats of works of art supported to virtual reality.
Finally, SuperRare’s third goal is to ensure the long-term sustainability of works of art and their ownership by integrating a Layer 2 solution into its platform. SuperRare also plans to create a mobile application for its marketplace, a tool which, curiously, is struggling to develop among NFTs platforms.
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