Mintbase mints in $12.5 million to develop NFT infrastructure

Lisbon-based platform that allows anyone to create their own non-fungible token (NFT) store, Mintbase has raised $7.5 million in funding. The series A round was backed by Coinbase Ventures, Libertus Capital, Sino Global Capital, Animoca Brands, Woodstock Fund, Fundamental Labs and others. The capital will enable the startup to give out grants to NFT projects and scale its operations.

The round follows an initial seed round of $1 million in late 2020. 

In addition to the series A round, the non-profit NEAR Foundation, which is responsible for contracting protocol maintainers and funding ecosystem development on the NEAR protocol, will award up to $5 million to support Mintbase’s new pass-through grants programme.  Titled Mintbase Grants, the programme will look for seasoned teams that want to build the next evolution of web 3.0 ticketing, music, and gaming platforms using the Mintbase developer infrastructure.

In 2021, the platform launched on NEAR protocol when NFT minting on Ethereum became too expensive and currently operates mainly on the NEAR blockchain.

The Lisbon-based NFT provides a global platform that allows anyone to create NFTs without worrying about technical complexities. Artists can create NFTs to sell digital art, musicians can use them for music, and event organizers can use them to sell tickets for their next event.

Nate Geier, founder, Mintbase said: “At Mintbase, we believe that we are moving away from massive single NFT marketplaces towards more individual and community-owned ones. Sharded WASM chains are the future as they operate with other more desired programming languages like Rust and AssemblyScript.”