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Solana-based Metaplex raises $46 million By BTC Peers

by Mike Robinson

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Metaplex, based in Solana, raises $46 Million

Metaplex Foundation, which is responsible for millions of NFTs has been able to raise $46 Million from several investors.

Jump Crypto and Multicoin Capital co-led the strategic financing round. Jump Crypto was joined by other metaverse investors such as Solana Ventures and Animoca Ventures. In addition to the listed firms, more than 90 individual investors also took part in the round, including Michael Jordan, fellow retired NBA star Allen Iverson, New York Knicks Executive Vice President William Wesley, and the pseudonymous NFT collector Cozomo de’ Medici.

Metaplex indicated that this new capital would be used by the foundation to support the Solana ecosystem and provide grants. There are also plans to prioritize the foundation’s metaverse and gaming applications in 2022. Metaplex Foundation director Sergey Vasylchuk said:

Metaplex will be a standard protocol and NFT for decentralized commerce and social gaming.

Metaplex is the permissionless protocol responsible for several Solana non-financial transactions (NFTs). It allows you to create, mint, and distribute NFTs via the Solana blockchain. More than 5.7 Million projects using the protocol have been implemented to date. Many successful Solana NFT collections, such as the Solana Monkey Business, Degenerate Ape Academy, and the highly anticipated NFT-driven game Star Atlas (NYSE:) all used the Metaplex Candy Machine for their mints and store their NFTs’ images and metadata.

Solana-based projects continue to be attractive investors despite being under severe pressure due to its low price action over the past months. Decentralized exchange Serum has raised $70million to expand its market based on order books. Five million dollars was raised in the same week by Solana DeFi Project Exotic Markets.

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