Rarify raises $10M in Series A funding led by Pantera Capital
NFT infrastructure provider Rarify has raised $10 million in Series A funding at a $100 million valuation.
Rarify raises $10 million in funding
The funding round was led by Pantera Capital, with Slow Ventures, Eniac Ventures, Greycroft and Hyper also participating. The company had previously raised $2 million in seed funding, with participation from Pareto, Eniac Ventures, Greycroft, Scott Belsky and Protocol Labs, among others. Rarify plans to use the funding to hire more employees and launch products with enterprise partners.Paul Veradittakit, a partner at Pantera, also gives an idea of what he thinks of Rarify. "Rarify removes the biggest hurdles companies face when introducing NFTs to their existing 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."
What is Rarify?
Rarify was founded in 2021 and is based in Manhattan. The company provides infrastructure to help companies integrate non-fungible tokens (NFTs) into their platforms. Rarify currently offers NFT embedding services that enable website, marketplace, and merchant platform operators to integrate simple NFT buying and selling capabilities. The company is working on a service that can make minting and selling digital assets a breeze for industries such as entertainment, music, apps and games.The company is also developing a data API that can track NFTs across multiple blockchains, verify a user's NFT profile picture, and assess the value of specific NFTs. Most of the products the company is developing are aimed at new entrants to the industry and are intended to lower the barrier to entry.
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