Metaplex Raises $46M in Multicoin Capital and Jump Crypto-led Funding Round

Metaplex foundation, the creator of NFT protocol Metaplex raised $46 million in a funding round led by Multicoin Capital and Jump Crypto.

Source: The Block

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Alameda Research, Solana Ventures, and Animoca Brands also participated in the round with interest from former basketball star Michael Jordan.

The foundation director, Stephen Hess, says that the round was the first fund drive realized through Simple Agreement for Future Tokens.

Allen Iverson, Kevin Love, Joel Embiid, and Snoop Dogg are the other investors in the funding series that brought together over 90 individual investors.

Metaplex platform assists users in creating their NFT marketplaces on Solana. The protocol plans to launch its native token dubbed META in the near term.

Metaplex launched in June 2021 and claims to have enabled 85,000 projects to develop more than 5 million Solana-based NFTs.

Some of the projects include Cryptokickers, Solana Monkey Business, Degenerate Ape Academy, and Neodyme.