Rarify, which offers infrastructure to help companies add non-fungible tokens (NFT) to their platforms, has closed a $10 million Series A funding round led by crypto investment firm Pantera Capital at a $100 million valuation. Other investors included Eniac Ventures, Greycroft, Hyper and Slow Ventures.
- The funding will be used to accelerate hiring and product launches with enterprise partners.
- “Rarify removes the biggest hurdles companies face when introducing NFTs to their existing products,” said Pantera partner Paul Veradittakit in a press release. “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.”
- Rarify is intended to offer an application programming interface (API) platform that lets companies create, manage and scale NFT products with a simple integration.
- Rarify currently offers commerce API infrastructure for marketplaces and applications to build end-to-end NFT experiences.
- The company also provides real-time API access to historical data for NFT assets across multiple blockchains that companies can use when building decentralized finance and marketplace products.
- “Opportunity is best harnessed by early movers and Rarify makes NFT feasible for more companies than ever before possible,” said Jon Oringer, founder of Pareto and Shutterstock. Pareto participated in Rarify’s $2 million seed round in September.
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