$46 Million for Metaplex

Multicoin Capital and Jump Crypto co-led the funding round with Solana Ventures, Alameda Research, and Animoca Brands in funding Metaplex Foundation which is the developer of Metaplex.

Metaplex raised $46 Million in the funidng round. This round also saw a high interest from former and professional basketball players which included Michale Jordan himself. Mr. Jordan has been very invested in the Solana blockchain as of late as he has also created his HEIR platform on Solana. Mr.Jordan was also joined by other players such as Allen Iverson, Joel Embiid,and Obadiah Toppin, even rapper Snoop Dogg joined in the funding round.

This was the first fundraiser for the Metaplex Foundation and was done via a SAFT sale. For those that don’t know a SAFT sale stands for Simple Agreement for Future Tokens. Meaning that a future token would be promised to investors. The foundation will launch its META token in the near future.

The question may be what will be done with the new funds, to which Metaplex Foundation has answered by stating plans for supporting projects that are using the Metaplex tools to create new developer tools. For the uninitiated the Metaplex protocol helps developers create their own NFT marketplaces built on the Solana blockchain. This increase in funds will aid in creating more projects and possibly even better marketplaces in the future. Metaplex has been instrumental in creating NFTs for over 85K projects. Some of the projects created include Degenerate Ape Academy, Neodyme, Cryptokickers, and the popular Solana Monkey Business ( SMB).


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