Mintbase announced a 12.5 million dollars round in Series A funding with Woodstock Fund’s leading. The funding is divided into two parts – 7.5 million dollars in VC and 5 million dollars in NEAR grants program.
Names like Libertus Capital, Coinbase Ventures, Sino Global Capital, Animoca Brands, Figment, Fundamental Labs, and TRGC are also backing the funding round. The funds will be used to offer ample opportunities to entrepreneurs and developers in the digital economy.
The NEAR Foundation acquired 5 million dollars to serve as a pass-through grants initiative. Veteran teams can reach Mintbase Grants to develop the next revolutionary evolution of Web3 music, gaming, and ticketing platforms via the Mintbase development infrastructure.
Mintbase entered the market in 2018 on Ethereum and faced several restrictions, leading to its complete rewriting in 2020. With its new and improved foundation, Mintbase has simplified custom marketplace development.
Now, with blockchains on their third evolution cycle, the newly established funding will boost Mintbase’s NFT infrastructure heavily. The venture has planned several projects regarding smart contracts and NFTs in the coming years. Their plan is to monetize users’ efforts, leading to innovative NFT projects using its toolkit.
Currently, the Mintbase Store allows owners to add other minters, including a company, person, NPO, and DAO. It also offers single payment splits and up to 50 royalties, while monitoring over 1086 stores. Once the network starts utilizing its funding, these numbers and use-cases are bound to soar.
With Mintbase’s primary focus on NFTs and smart contracts, its infrastructure will surely support its distribution, trading, and redeeming. Thus, users should keep a close eye on its updates to leverage the opportunities as soon as they release.