No matter the state of the crypto market, funding rounds are still going strong. This time, Metaplex raised $46M in order to expand its gaming and metaverse applications.
Nonfungible token protocol Metaplex has concluded a $46 million token sale to support its strategic pivot into metaverse applications — offering further evidence that existing blockchain networks were looking to capitalize on advances in Web3 technology.
The token round was co-led by venture firms Multicoin Capital and Jump Crypto, with additional participation from Solana Ventures, Alameda Research and Animoca Brands. Over 90 individuals also participated in the sale, including NBA legends Michael Jordan and Allen Iverson. The token round will allow the Metaplex Foundation, which supports the development of the Metaplex protocol, to expand its support for metaverse and gaming applications beginning this year. As an NFT-first protocol, Metaplex has already been used to create over 5.7 million digital collectibles for 85,000 projects, according to the company.
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