NFT Marketplace Rarible has raised $ 14.2 million and plans to launch on the Flow blockchain.

The non-fungible token market (NFT). rare revealed that the company had raised $ 14.2 million Americans inside Series A funding. Rarible explained that he would raise money to make NFT mainstream and announced his integration with a consumer-centric blockchain called To flow.

Rarible raises $ 14.2 million in Serie A funding.

Wednesday 23 June Rare NFT market revealed that the organization had collected more than 14 million US dollars.

This round A was conducted by Venrock, Coinfund And Consultants 01. The startup also revealed that it will soon launch the NFT market on the Blockchain flow.

Co-founder of Marketplace and CEO of Rarible, Alessio Falin She said :

“Just as we have always been at the forefront of the NFT movement, Rarible is determined to lead the way in the next wave … With this company milestone, we are grateful for the support of Venrock, 01 Advisors and Coinfund and look forward to seeing you there. ‘time to move beyond the current closed crypto environment and bring NFTs into mainstream consciousness. “

An overview of the Rarible creation protocol

As a reminder, the rare is a blockchain-based NFT startup Ethereum. Therefore, it allows users to mint, buy and sell non-fungible tokens (NFT).

Rarible was launched in early 2020 and the platform was slow to take off. The project pointed out that within six months of its launch, Rarible’s total trading volume was lonely $ 28,000. However, the platform benefited from it rapid growth in the NFT industry and has accumulated more than $ 150 million also in the volume of transactions “multiplied by 3000”.

Flow blockchain support integration

Along with the Series A investment, Rarible also announced that it will integrate support for the Blockchain flow. Flow is a platform Proof of Stake Blockchain designed to support digital collectibles and entertainment use cases. Flow was developed by Dapper Labswho also created the innovative app CryptoKitties powered by NFT.

L’integration with Flow it’s part of their efforts to bring more NFTs into the mainstream, according to the Rarible team.

Skyrocketing Growth in Crypto Space

Despite the funding, Rarible said they are still planning to do so upgrade the platform to a DAO belonging to the community.

Rare has his own own token of government, called ARRI, launched in July last year. The market appears to have reacted very well to Rarible’s Series A, with the price of the token falling increased by 86.7% the day of the announcement. It should be noted that the Rare governance token allows users to vote on proposals regarding the functionality and costs of the platform.

Rarible has a large number of competitors in this field which also provide NFT market operations such as Superfarm, Hic and Nunc, Makers Place, Nifty Gateway, Ethernity, Hoard, Enjin, Fansforever and Opensea. According to data from Dune Analytics, Rarible’s trading volume in the past 30 days has exceeded $ 12 million and the trading volume in the past 7 days has reached $ 58.63. The average price for Rarible to buy NFT on the platform is around $ 704 per collectible.

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