Ripple invests in NFT marketplace Mintable
Ripple has joined a $13 million funding round in Mintable, an NFT marketplace that enables users to create, buy, and sell digital items using fiat or cryptocurrency.
Other investors include blockkchain gaming developer Animoca Brands, NFT investment fund Metapurse, and angel backers Doug Band, a former advisor to Bill Clinton, and Jon Oringer, founder and executive chairman of Shutterstock.
Zach Burks, CEO and founder of Mintable, says: “Throughout 2021, NFTs have reached mass appeal, having touched almost every sector spanning entertainment, fine arts, sports, and many more. As the technology continues to mature and the space rapidly evolves, this is a critical company milestone for Mintable and we are thankful for the support from our investors who hold the same shared belief of the many opportunities that NFTs can bring among mainstream users.”
Headquartered in Singapore, Mintable last year minted 700,000 NFTs for brands, celebrities, and artists.
looking ahead, Mintable plans to integrate with Ripple's XRP Ledger, which promises low transaction fees and low energy consumption for creators to sell their works.
In a statement, Ripple says: "We couldn’t be more excited to work with our friends at Mintable to provide creators and developers with a best-in-class experience and bring more participants into the blockchain ecosystem with NFTs."