25/06/2021 NFT marketplace startup Rarible closes $14.2 million Series A

You’ve likely seen the headlines surrounding the pretty major decline in NFT sales from the market’s recent peak, with some reports indicating as much as a 90 percent decline in recent weeks. And while plenty of crypto speculators are on the losing end of that rapid decline, others see a future where digital collectible and digital goods take over the internet.

NFT marketplace Rarible announced Wednesday that they’ve closed a $14.2 million Series A from v Capital, CoinFund and 01 Advisors. The startup allows users to buy and auction off digital art. The firm also has its own Rarible governance token which allows users to make and vote on proposals around the platform’s features and fees.

The startup says it has reached $150 million in sales on the platform since launching 18 months ago.

NFT startups have raised major sums in recent months as investors coalesced around backing early players in the digital collectibles space. OpenSea, one of the most popular NFT hubs, raised a $23 million funding round in early spring from Andreessen Horowitz and Naval Ravikant. In March, invite-only NFT marketplace SuperRare raised a $9 million Series A. Last month, Bitski raised $19 million in bid to become the “Shopify of NFTs.”

Alongside the funding announcement, Rarible shared that they’ve officially partnered with NBA Top Shot maker Dapper Labs to bring their NFT marketplace to Dapper’s Flow blockchain. Dapper Labs has begun building out a wider coalition of NFT platforms on its proprietary blockchain which is more energy efficient and less costly than transactions on the Ethereum network, though it is also much more centralized. Rarible says they will make this transition in the “next couple of months.”

The startup has broad goals for making the NFT space more approachable to everyday web users, saying in a a blog post that they hope to use this funding to explore more user-friendly developments like accepting credit card payments. “We need a world where an indie creator can effortlessly create an NFT and sell it for $5 to his community of supporters, as well as where a pop icon can use NFTs to establish close contact with her multi-million audience in a sustainable way,” the post reads.
Arts

https://techcrunch.com/2021/06/23/nft-marketplace-startup-rarible-closes-14-2-million-series-a/?

Interesting NFTs
Right Place & Right Time (bitcoin hourly price offset)
Each day, a new composition for the Master is generated autonomously using a data feed of Bitcoin's last 24 hours of price action. Each hour's price programmatically controls rotation, scale, and position of a correlating layer. Astute viewers will surmise the day's price volatility simply by examining the artwork. While the daily image generation is the result of autonomous API calls, utilizing an algorithm the artist wrote, the artist has chosen to retain a control token. This token allows him to fine-tune variables associated with his algorithm, in addition to addressing aesthetic concerns within the life-cycle of the artwork. Layer state, alpha, hue, saturation, and brightness are elements the artist has retained control of in order that this artwork remain a living work-in-progress. An earlier iteration of this artwork was featured as a nightly projection mapping video on the face of the Daniels Fisher Clocktower, as part of ETH Denver 2020. Access to this and additional exclusive content awaits the master token owner at the artist's NFT Portal: https://collect.mattkane.com/minted-works/right-place-right-time-bitcoin-hourly-price-offset/
#8636
By OthersideDeployer
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CryptoPunk #6275
The CryptoPunks are 10,000 uniquely generated characters. No two are exactly alike, and each one of them can be officially owned by a single person on the Ethereum blockchain. Originally, they could be claimed for free by anybody with an Ethereum wallet, but all 10,000 were quickly claimed. Now they must be purchased from someone via the marketplace that's also embedded in the blockchain.