Mintable Secures US$13 Million in Series A Funding Round
The oversubscribed funding round saw participation from Ripple, NFT investment fund Metapurse, Animoca Brands, and Shutterstock executive chairman Jon Oringer
Singapore — July 1, 2021 — Mintable, a next-generation non-fungible token (NFT) minting platform and marketplace, announced the close of its oversubscribed series A funding round at US$13 million. The round saw participation from notable names including Ripple, which provides XRP Ledger developer tools, programmes, and services and enterprise blockchain solutions; Animoca Brands, the leading mobile and blockchain gaming developer; Metapurse, the world’s largest NFT investment fund backed by Metakovan; Doug Band, American businessman and former advisor to Bill Clinton; and Jon Oringer, founder and executive chairman of Shutterstock. With the new injection of funds, Mintable will be focusing on scaling its operations and boosting its growth and user acquisition initiatives.
Zach Burks, CEO and Founder of Mintable, said: “Throughout 2021, NFTs have reached mass appeal, having touched almost every sector spanning entertainment, fine arts, sports, and many more. As the technology continues to mature and the space rapidly evolves, this is a critical company milestone for Mintable and we are thankful for the support from our investors who hold the same shared belief of the many opportunities that NFTs can bring among mainstream users.”
Other participants in the round funding included John Kim, president of platform and marketplaces at Expedia Group, Double Peak, 7 O’Clock Capital, 640 Oxford Ventures, Digital Finance Group, Spark Digital Capital, Reimagined Ventures, and 840 Venture Partners.
Commenting on the new investment, Michael Kam, Partner at Double Peak Group said: “Mintable marks our continued focus and strategic investment into the NFT space. We believe it is important for NFT platforms to attract non-crypto users, be user-friendly and be decentralised in the long run. Under the leadership of Zach (CEO) and Jiawen (COO), we believe Mintable will achieve all of that and become a key player in shaping the future of NFTs.”
“NFTs are giving rise to powerful new business models for creators,” says Monica Long, GM of RippleX at Ripple. “Accelerating the growth of this creator economy starts with an infrastructure that removes the barriers to entry — such as high gas fees and environmental costs of creating NFTs — faced by many today. Our investment in Mintable is a testament to our shared vision for cost-efficient and sustainable NFTs to enable profitability for creators and mainstream accessibility to crypto.”
To date, Mintable has seen immense growth in the past year, with approximately 700,000 items now minted on its platform. The proceeds of the Series A investment will be used to further spearhead numerous user acquisition and growth initiatives for Mintable’s individual users and brand clients. Mintable will continue to develop and launch new products to deliver on its mission of making the buying and trading experience of NFTs as easy and accessible as possible for the mass market.
Sandra Wu, Managing Director of SkyVision Capital, said: “Our investment in Mintable is a testament to our commitment in furthering the mass adoption of NFTs and DeFi at scale. We are excited to work with the team as they unlock the vast opportunities that NFTs have in store for everyone.”
Throughout 2021, Mintable received backing from high-profile investors including renowned American venture capitalist and television personality Mark Cuban, Guy Oseary and Ashton Kutcher’s Sound Ventures, Marc Benioff’s TIME Ventures, Crypto.com, LongHash Ventures, and many more.
Headquartered in Singapore, Mintable is a leading NFT marketplace and minting platform built on the blockchain. Mintable is the first in the industry to implement a unique gas-free minting feature that allows users to create their NFTs, enabling content creators to fully benefit from what NFTs have to offer without being burdened by prohibitive transaction fees. Since launching in 2018, Mintable has established a growing catalogue of unique items, spanning digital art, music, collectibles, game items, domains, and many more, for sale on its platform.
To date, Mintable has worked with brands, celebrities, and artists looking to kickstart their NFT journey. Most recently, Mintable worked with NFL Jacksonville Jaguars quarterback Trevor Lawrence whose NFT collection sold on the platform for over US$400,000, leading streetwear fashion brand BAPE, and American business broadcaster CNBC which recently raised US$100,000 for charity via a Mintable NFT auction.
Mintable CEO Zach Burks is available for interviews
Mintable is a next-generation non-fungible token (NFT) marketplace built on the blockchain. Launched in 2018, Mintable has pushed the NFT industry forward by being the first to design gasless minting, batch minting and royalties, empowering artists and creators to monetize their work via NFTs. Mintable’s gas-free minting option allows the everyday person to get involved with NFTs without any prior knowledge in coding or upfront cost of minting an asset — a great way for everyone to get into crypto. In 2021, Mintable announced the backing of a list of high caliber investors including renowned venture capitalist and television personality, Mark Cuban, Sound Ventures, a venture capital firm founded by Ashton Kutcher and Guy Oseary, and TIME Ventures, the investment fund for Marc Benioff. To date, Mintable has sold and auctioned works by Grammy-Award winning artists, 20th century avant garde artists, and various high profile artists and celebrities.
For more information, visit mintable.app