1/17/2024 0 Comments Rarify scissors![]() The API also allows firms to mint and port NFTs between different blockchains. One of Rarify’s main offerings is an NFT-commerce-focused application programming interface that enables companies to create, manage, integrate, and scale NFT products in their platforms. The firm is also one of the major venture capital firms in the cryptocurrency industry. Launched in 2021, Manhattan-based Rarify is considered a rapidly growing company that continues to provide infrastructure to help firms build non-fungible tokens (NFT) to their platforms. Tsivtsivadze illustrated that while the check-out process of marketplaces like OpenSea is something sort of a 14-step process, Rarify aims to cut down the process as little as three steps. Meanwhile, Revas Tsivtsivadze, the co-founder of Rarify, also commented about the financing and stated that the firm aims to simplify the buying and selling of NFTs just the way Block Inc (formerly Square) made it super easy to accept payments. The fresh financing gives Rarify a valuation of $100 million. Other investors, including Eniac Ventures, Greycroft, Hyper and Slow Ventures, also participated in the funding round. We’re excited to partner with the Rarify team to accelerate their growth trajectory and make NFTs accessible to companies and, by extension, consumers at large.” Paul Veradittakit, a partner at Pantera, further elaborated how Rarify intends to use the newly raised funds: “Rarify removes the biggest hurdles companies face when introducing NFTs to their existing products. Rarify said that it plans to use the funding to accelerate hiring and product launches with enterprise partners. Their API enables the creation, management, and scaling of blockchain-agnostic NFT products with simple integration.Rarify, an application programming interface ( API) platform, announced on Thursday that it raised $10 million in a Series A funding round led by crypto investment firm Pantera Capital. Rarify’s mission is to accelerate business innovations by removing the technical barriers to entry for non-fungible token (NFT) technology. “They’re in Kyiv and Kharkiv,” he explains. It has been possible through tricky at times to maintain communication with them as the war has progressed in recent days, says Antadze. ![]() (They first met attending a prestigious high school in Tbilisi.) Antadze had been living in Ukraine, too, until flying out a few weeks. Tsivtsivadze and cofounder Lasha Antadze are Georgian. Shutterstock has signed on to test out Rarify’s tech, and Oringer wrote Tsivtsivadze the first check for Rarify, part of a $3 million seed round last year that included Greycroft and Einac Ventures.įour of Rarify’s 14 employees, including the chief technology officer and engineering head, remain in Ukraine, where they had been living before the Russian invasion. Revas Tsivtsivadze spent 5 years as a product manager at Shutterstock, winning the attention of its billionaire founder, Jon Oringer, by the time he left in 2021. ![]() What if we could cut down on that from 14 steps in the process to three steps.” Further, in the future, Rarify thinks it might be able to build some type of investment software to gauge the investment value of NFTs, which remain a volatile and unregulated asset class. “Checking out on OpenSea,” currently the largest NFT exchange, “is like, a 14-step process. The goal is something along the lines of “how Square made it super easy to accept payments,” says cofounder Revas Tsivtsivadze. Rather, it plans to sell software to big corporations that make creating and selling NFTs easier. ![]() Pantera likes that Rarify is doing something more straightforward than a token-based members’ club. Rarify, a new NFT startup has raised a $10 million Series A at $100 million valuations from Pantera Capital, one of the earliest venture capital firms to focus on crypto. ![]()
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