Georgian NFT Startup Rarify has Invested $10 Million
Rarify - this is the name of the NFT startup of Georgian entrepreneurs, which attracted a $ 10 million investment from Series A Pantera Capital. The latter is particularly attracted by the fact that the startup is striving for something simpler; more specifically, the startup plans to sell software to large corporations that will make it easier to create and sell NFTs.
The investment will be followed by $ 2 million in funding from Pareto, Eniac Ventures, Greycroft, Scott Belsky, Protocol Labs, and others, which will enable the product to launch quickly with its manufacturing partners.
"Checking on OpenSea is a 14-step process. What will happen if we reduce this process from 14 to 3? ”Said Revaz Tsivtsivadze, co-founder of Rarify. In the future, the startup plans to create some kind of software that will be designed to assess the investment value of NFTs. This is very useful because the industry is still considered a class of volatile and unregulated assets.
"Rarify solves the biggest obstacles that most companies face when introducing NFTs into existing products. We look forward to partnering with this startup team to accelerate its growth trajectory and make it more accessible to NFT businesses and consumers in general, ”said Paul Veradittakit, Pantera's Representative.
It is noteworthy that four of the 14 startup employees, including Chief Technology Officer and Chief Engineer, are currently in Ukraine. "It is possible to maintain communication with them, but sometimes it is difficult. They are in Kyiv and Kharkiv, in two hot spots, ”explained Lasha Antadze, co-founder of Rarify.
What products does Rarify offer?
Rarify currently offers a Commerce API framework that provides the ultimate in marketing and applications. In addition, it offers real-time API access to complete historical data on NFT assets - as well as multiple blockchains.
Overall, Rarify's mission is to significantly reduce the barrier to entry into NFT technology and enable businesses to participate fully in the growing economy. The vision of the startup is based on the belief that all platforms, regardless of their technical group, should be able to provide their users with the necessary trading, monetization, and data or information access to NFTs.
Source: Marketer