Metaplex Raises $46 Million Through Latest Token Sale

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Open-source NFT protocol, Metaplex, has raised an eye-watering $46 million via its latest token sale, with an aim to use the funds to bankroll a divergence into NFT gaming and metaverse applications.

The fundraiser was co-led by investment firms Multicoin Capital and Jump Crypto, with additional support from Solana Ventures, Alameda Research and Animoca Brands, as well as a myriad of individual investors including NBA legends Michael Jordan and Allen Iverson.

Going forward, Metaplex will use the funds to expand its gaming and metaverse endeavours by building out a fleet of applications that will fit neatly into its game plan. With NFTs inextricably linked to the futures of both mediums, the expansion follows an organic progression for the savvy protocol, thereby setting itself up for a year of rapid expansion.

“We are keen to support projects & developers who are expanding the functionality of the @Metaplex protocol” @stphnhss

🦾 Introducing an open NFT standard & minting program
🦾 Tools that further enable P2P commerce & Web3 identity systems using an on-chain social graph

— Metaplex (@metaplex) January 18, 2022

Metaplex’s NFT marketplace arrived on the Solana network back in June with more than a little help from the FTX exchange. Since then, reports indicate that it has facilitated the creation of over 5.7 million NFTs, relating to a staggering 85k projects, demonstrating a fine tactical nous that will help it compete with the big guns.


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