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NFT Marketplace Rarible Raises Over $14 Million, Reveals Plans to Launch on Consumer Centric Blockchain “Flow”

NFT Marketplace Rarible Raises Over $14 Million, Reveals Plans to Launch on Consumer Centric Blockchain “Flow”

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The non-fungible token (NFT) marketplace Rarible has revealed the company has raised $14.2 million in a Series A funding round. Rarible details the funds will be leveraged to take NFTs to the mainstream and announced integration with the consumer-centric blockchain called Flow.

Rarible Raises $14.2M in Series A Funding Round

On Wednesday, the NFT marketplace Rarible, a protocol for creating, selling, and collecting non-fungible, blockchain-based collectibles, revealed the organization raised more than $14 million. The Series A funding round was led by Venrock, Coinfund, and 01 Advisors and the project also revealed it will soon be launching an NFT market on the blockchain Flow.

Brainchild of the creators of Cryptokitties, the Flow project has seen well-known brands like the UFC, Dr. Suess, Ubisoft, Samsung, Warner Music Group, and the National Basketball Association (NBA) mint NFTs using its tech.

Since its launch in 2020, the Rarible marketplace has seen $150 million worth of NFT sales and Rarible’s trading volume has grown “3,000-fold.” Moreover, well-known luminaries have created NFT collectibles on the Rarible marketplace including celebrities like visual neo-pop artist Richard Orlinski, the boxer Floyd ‘Money’ Mayweather Jr., actress Lindsay Lohan, billionaire Mark Cuban, hip hop star Tyga, American rapper Bhad Bhabie, and multi-platinum Puerto Rican singer-songwriter Ozuna.

“Just as we have always been at the forefront of the NFT movement, Rarible is determined to pioneer the next wave,” the cofounder of Rarible’s marketplace and CEO Alexei Falin said. “With this company milestone, we are thankful for the support of Venrock, 01 Advisors, and Coinfund and look forward to going beyond the current enclosed crypto environment and taking NFTs into mainstream consciousness.”

Coinfund Expects Major Growth in the NFT Space, NFT Marketplace Competition Has Increased a Great Deal

Jake Brukhman, the CEO of Coinfund, believes that Rarible will remain ahead of the curve in terms of the NFT sector expanding. David Pakman, partner at Venrock expects “major growth in the NFT space as more individual creators, musicians, brands, digital artists and influencers realize the value of digital collectibles and peer-to-peer transactions on platforms such as Rarible become more popular.”

Rarible has a great number of competitors in the space that offer NFT marketplaces as well. The competition includes NFT market operations like Superfarm, Hic et Nunc, Makers Place, Nifty Gateway, Ethernity, Hoard, Enjin, Fansforever, and Opensea. Data from Dune Analytics shows that Rarible has seen over $12 million in 30-day volume and $54,963 over the last seven days. Rarible’s average purchase price for an NFT on the platform is roughly $704 per collectible.

Source Credits: Bitcoin.com

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Tezos launches world’s first Uranium marketplace on blockchain

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Tezos blockchain has become the foundation for the world’s first uranium trading marketplace, marking a significant milestone in the integration of blockchain technology with critical commodities. Announced on Nov. 21, the platform aims to bring transparency and efficiency to the global uranium market, which has traditionally operated with limited visibility and complex supply chains. The initiative is spearheaded by major industry players seeking to modernize uranium trading.

The blockchain-based marketplace will enable buyers and sellers to transact securely while providing an immutable ledger of all transactions. This innovation is expected to address long-standing challenges in the uranium sector, including traceability, regulatory compliance, and pricing opacity. By leveraging Tezos’ smart contract capabilities, the platform offers automated processes for contract execution and ensures a transparent record of ownership and origin.

Industry leaders have praised the project as a game-changer for the nuclear energy supply chain, which relies heavily on uranium. The marketplace is designed to support global efforts to enhance sustainability and safety, aligning with the increasing focus on responsible sourcing of critical materials. The move could also attract new participants to the market by lowering barriers to entry and fostering trust through blockchain’s verifiable data.

This development underscores the expanding role of blockchain in transforming traditional industries beyond finance. By addressing inefficiencies in one of the world’s most regulated markets, Tezos demonstrates how decentralized technologies can drive innovation and transparency. As the uranium marketplace gains traction, it could serve as a blueprint for blockchain adoption in other critical resource sectors.

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LimeWire adds decentralized file sharing feature with BNB Greenfield

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LimeWire, the iconic file-sharing platform from the early 2000s, has made a comeback, reimagined for the Web3 era. Announced on Nov. 21, the platform now operates as a decentralized file-sharing network, leveraging blockchain technology to enable secure and transparent peer-to-peer sharing of digital assets. The relaunch aims to blend nostalgia with innovation, introducing LimeWire to a new generation of users while embracing the principles of decentralization.

The updated LimeWire platform integrates blockchain to provide content creators with greater control over their work, including tools for licensing and monetization. Users can share files, such as music, videos, and other media, while ensuring ownership and royalties are preserved through smart contracts. LimeWire also features its own native token to facilitate transactions within the ecosystem, including tipping creators and accessing premium content.

LimeWire’s revival reflects a broader trend of Web2 platforms transitioning into the Web3 space. The platform’s focus on decentralization aligns with the growing demand for alternatives to centralized file-sharing services, which have faced criticism over censorship and lack of user privacy. By adopting blockchain, LimeWire seeks to address these issues while empowering both creators and consumers with greater transparency and fairness.

As LimeWire re-enters the digital landscape, its success will depend on user adoption and the platform’s ability to compete with established Web3 content-sharing solutions. With its nostalgic branding and commitment to innovation, LimeWire’s evolution into a decentralized platform positions it as a potential leader in reshaping how digital content is shared and monetized in the blockchain era.

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Coinbase Expands Trading Options for New York Users with Four New Tokens

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Coinbase, one of the largest cryptocurrency exchanges in the United States, has announced the addition of four new tokens to its trading platform for users in New York. The newly listed tokens—NEAR Protocol (NEAR), AERGO (AERGO), VeThor Token (VTHO), and PayPal USD (PYUSD)—are now available for trading in the state, offering more choices to New York-based investors.

This move is part of Coinbase’s ongoing effort to expand its offerings and provide a wider range of assets to its user base. The inclusion of NEAR, AERGO, VTHO, and PYUSD reflects the growing demand for diverse digital assets in the crypto market.

NEAR Protocol is known for its developer-friendly blockchain, AERGO offers a hybrid blockchain for enterprise solutions, VeThor Token is used within the VeChain ecosystem, and PayPal USD is a stablecoin backed by PayPal, aimed at facilitating digital payments.

New York, known for its strict regulatory environment regarding cryptocurrencies, has often seen a more limited selection of tokens available for trading. Coinbase’s expansion to include these tokens indicates a growing acceptance and regulatory clarity around these assets in the state.

The exchange continues to enhance its platform, ensuring that it meets the evolving needs of its users while complying with local regulations.

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