Non-fungible token (NFT) platform Mojito, a spinout of Web3 marketing firm Serotonin, announced a $20 million funding valuing the company at $100 million. Strategic investors include auction house Sotheby’s and Connect Ventures, a joint venture between sports and entertainment firm Creative Artists Agency (CAA), and global venture capital firm New Enterprise Associates (NEA). Future Perfect Ventures led the round.
The market for NFT marketplaces is becoming ever more crowded. One trend is established players in the blockchain and crypto industry such as FTX, Binance, and Coinbase launching their own NFTl markets. More niche initiatives are emerging, focusing on specific content such as sports, character-like avatars, cards of iconic personalities, luxury brand NFTs, and others.
Mojito aims to surf that wave of specialist marketplaces by supplying the solution to operate them. For example, it partnered with Sotheby’s to launch a metaverse destination for NFTs, where Mojito operates the technology platform.
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