Mark Cuban and Ashton Kutcher backed NFT marketplace Mintable secures $13m funding
Mintable, a next-generation non-fungible token (NFT) minting platform and marketplace, announced the close of its oversubscribed series A funding round at $13m.
The round saw participation from notable names including Ripple, which provides XRP Ledger developer tools, programmes, and services and enterprise blockchain solutions; Animoca Brands, a mobile and blockchain gaming developer; Metapurse, a global 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.”
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.