NFT marketplace MakersPlace raises $30 million in latest funding round

San Francisco-based NFT marketplace, Makersplace, has raised $30 million

in its latest funding round. Sponsored

MakersPlace first gained notoriety when Beeple auctioned a piece of art on the platform in March. While Christie’s put the artwork up for auction, MakersPlace hosted the auction. The Beeple artwork is still one of the most expensive NFTs

in history, selling for $69 million.

The company intends to use the money for additional hiring and scaling up its operations. As non-convertible tokens (NFTs) continue to grow in popularity, the potential for expansion will increase.

Sponsored

Already, the NFT market is backed by many well-known investors and corporations. Uncork Capital, Draper Dragon Digital Assets, 9Yards Capital, Next Play Ventures, Coinbase Ventures, and Sony Music Entertainment

participated in the roundtable during this investment session.

Both Bessemer Venture Partners and Pantera Capital managed the session.

Founded in 2018, the company currently has 17 employees. Therefore, the addition provides MakerPplace with the opportunity to expand with the market. At the top of the program, Makerplace consists of Darrell Rocha as head of communications (Sotheby’s auction house), Keith Bormuth as head of design (Pinterest and Nike), and David Weier in charge of music partnerships (Fuse and VH1).

MakersPlace is an NFT exchange

that accepts both cryptocurrencies in the form of ETH and US dollars.

Expansion in the NFT world

MakersPlace is not the only NFT marketplace seeing dividends from the popularity of this space. Last month, OpenSea

, the world’s first and largest NFT exchange saw a huge increase in trading volume. Over the past thirty days, trading volume has reached $1.5 billion, which is more than half of their total market volume.

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Last week, major online marketplace Alibaba also announced its own NFT marketplace. Despite China’s cryptocurrency policies, enthusiasts from the country continue to engage in this space. The e-commerce giant will begin its auctions next month.

In addition to industry markets, other major players in the traditional financial space are making waves in the NFT market. Last week,

VISA made its first purchase of NFT as a company. The sale was valued at $150,000 of original CryptoPunks. While this is the first purchase for VISA, the company says that this will not be their last investment in NFT.

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