The Mintable non-fungible token (NFT) minting platform and the marketplace have reportedly secured $13 million of investment, which will be dedicated to the integration of Ripple’s XRP Ledger blockchain.
Specifically, the startup from Singapore acquired the fund via a Series A fundraising, witnessing the participation of major players in the field, nominally mobile and blockchain gaming developer Animoca Brands, and Metapurse – a globally recognized NFT investment fund.
Ripple reportedly disclosed details of Mintable’s initiative to complete the integration of its XRP Ledger (XRPL) blockchain – which is claimed to be carbon neutral and is “ideally suited to deliver a seamless experience for NFTs”.
“Its environmentally friendly attributes will allow billions of NFTs to be minted, bought, and transferred on the XRPL in a sustainable way.”
Mintable – an Ether-powered platform at the moment – is reportedly among many crypto-centric investments in Dallas Mavericks owner Mark Cuban’s burgeoning portfolio, and has finalized the minting process of over 700,000 items during 2020, giving way to the establishment of a developing range of unique items, nominally digital art, music, collectibles, and gaming items.
Mintable additionally revealed that the freshly obtained fund will be channeled towards scaling its operations, as well as amping up the development and user acquisition projects.
“Accelerating the growth of this creator economy starts with an infrastructure that removes the barriers to entry — such as high gas fees and environmental costs of creating NFTs — faced by many today.” General Manager of RippleX at Ripple, Monica Long, reportedly revealed the firm’s decision to invest in Mintable was fueled by a joint vision of cost-efficient and sustainable NFTs.