Non-fungible token (NFT) minting platform and marketplace Mintable completed a Series A round of funding of $13 million. Investors include Ripple, blockchain game developer Animoca Brands, NFT investment fund Metapurse, and Bill Clinton’s former advisor Doug Band. Mintable is also backed by billionaire Mark Cuban.
The startup was launched in 2018 but only saw significant growth in the past year. Apart from this year’s NFT boom, one of the reasons for its expansion is the launch of gasless minting in January, which has enabled people with no background in crypto to get involved.
On most platforms, the upfront cost of minting an NFT is between $50 to $150 due to gas fees, the charge for using the Ethereum network. This cost deters people who can’t afford that investment and those who don’t know enough about NFTs to be comfortable with crypto.
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