NFT marketplace SuperRare raises $9m from Mark Cuban and Samsung

The non-fungible token (NFT) platform SuperRare has completed a Series A financing round, raising $9m.

The round was led by venture firms Velvet Sea Ventures and 1confirmation. They were joined by billionaire Mark Cuban, investors Chamath Palihapitiya and Naval Ravikant, entrepreneur Marc Benioff, Ashton Kutcher and Guy Oseary’s Sound Ventures, SamsungNext and others.

According to SuperRare, the platform’s monthly turnover of the digital-art market grew from $8,000 in 2018 to $25 million in 2021. Representatives of the platform say they have helped artists earn more than $30 million.

The head of SuperRare told Decrypt that the platform would spend the raised funds on expanding the team, developing a mobile app and studying the technology of digital displays for showcasing NFTs.

According to the press release, the marketplace will also feature chat and personalized channels.

Earlier, the developers of the NFT platform NBA Top Shot raised $305m from Michael Jordan and other investors. According to media reports, the project was valued at about $2.6bn.

Previously, NFT media platform Nifty’s completed a pre-seed round of financing led by billionaire Mark Cuban and Ethereum co-founder Joseph Lubin.

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