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Their goal? To popularize collectibles, this time in a decentralized fashion. Remember how kids in the 90s and 00s used to collect Pokémon cards, Yugioh cards, football stickers, and a multitude of other collectibles? Today, the same kids who collected these are grown up and a part of the decentralized finance industry. As a reminder, NFTs are simply put a unique type of token that are limited in their quantity. Rarible is a new platform and marketplace where users can purchase and sell digital collectibles in the form of NFTs. This time, DeFi’s latest craze is artwork published in the form of NFTs on Rarible. As 2020’s yield farming craze appears to have come to an end, investors are looking for a new target. Join us on Telegram and follow us on Google News.Cryptocurrency investors seem to have become interested in non-fungible tokens (NFT) as yield farming rewards have been severely reduced. Want alpha sent directly to your inbox? Get degen trade ideas, governance updates, token performance, can’t-miss tweets and more from Blockworks Research’s Daily Debrief.Ĭan’t wait? Get our news the fastest way possible.

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Subscribe to Blockworks’ free newsletter now. Get the day’s top crypto news and insights delivered to your email every evening. “With NFT Embeds, content creators can simplify the entire discovery and checkout process for the end users,”the startup said. Rarify also offers real-time API access to historical data on NFT assets across “multiple blockchains” that can be leveraged by Web2 and Web3 companies building decentralized finance (DeFi), marketplace products. “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 removes the biggest hurdles companies face when introducing NFTs to their existing products,” said Pantera partner Paul Veradittakit. Problems for new business entrants in the sector arise when they first attempt to build NFTs that require particular technical resources and skills, the startup said.īlockchains lacking interoperability while having platform-specific economies as well as companies lacking familiarity with compliance standards were some of the largest hurdles for new entrants. Rarify also said its mission was to reduce barriers to entry for NFT technology and to enable businesses to “participate” in a sector experiencing significant growth. Rarify offers commerce API infrastructure for marketplaces and applications to build “end-to-end experiences” with NFTs (non-fungible tokens), the startup said in its release.

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Rarify’s Series A is the latest round following in $2 million seed funding that saw participation from the likes of Pareto, Eniac Ventures, Greycroft, Scott Belsky and Protocol Labs, among others. The raise, which saw participation from Slow Ventures, Eniac Ventures, Greycroft and Hyper, has boosted the company’s valuation to $100 million. The fresh injection of capital will be put toward the startup’s hiring efforts as well as product launches with enterprise partners, according to a press release on Thursday. NFT infrastructure startup Rarify has secured $10 million via a Series A led by Pantera Capital.

Those barriers include blockchains lacking interoperability while having platform-specific economies as well as companies lacking familiarity with compliance standards.Rarify wants to reduce technical complexities for new entrants to the NFT space.

Nft rarify