NFT marketplace Mintable raises US$13m in Series A funding round

MINTABLE, a non-fungible token (NFT) minting platform and marketplace, has raised US$13 million in Series A funding from its investors, which include Ripple Labs and Metapurse, an NFT investment fund backed by Metakovan.

Other backers include Animoca Brands, a mobile and blockchain gaming developer; Doug Band, an American businessman and former advisor to Bill Clinton; and Jon Oringer, founder and executive chairman of Shutterstock.

Singapore-headquartered Mintable, which is backed by Mark Cuban, has about 700,000 items now minted on its platform. The funds raised will be used to develop and launch new products, with the aim of making the buying and trading experience of NFTs as easy and accessible as possible for the mass market, it said.

The startup recently worked with National Football League quarterback Trevor Lawrence, whose NFT collection sold on the platform for over US$400,000; Mintable has also worked with streetwear fashion brand BAPE, and American business broadcaster CNBC, which recently raised US$100,000 for charity through an NFT auction.

Other participants in Mintable's Series A round 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.