Metaplex raises $46 million from Multicoin Capital and Jump Crypto

Metaplex Foundation, the entity behind the Solana-based NFT ecosystem of the same name, raised $46 million in its first financing round.

“From the very beginning, a principle that we’ve held to and has served us well is really looking to creators—and people that work in the entertainment, media, and sports industries—for inspiration in terms of where we take NFTs next” @stphnhss https://t.co/5DpjnDcDCl

— Metaplex (@metaplex) January 18, 2022

The funding round was led by Multicoin Capital and Jump Crypto, with participation from Solana Ventures, Alameda Research, Animoca Brands, basketball player Michael Jordan, rapper Snoop Dogg, and other investors.

Metaplex Foundation director Stephen Hess noted that the raised funds would be used to expand potential use cases for Solana NFTs and to support projects building new tools on the protocol.

According to the organisation, Metaplex, launched in June 2021, has helped issue more than 5 million Solana-based non-fungible tokens for 85,000 projects.

Hess also told The Block about Metaplex Foundation’s plans to launch its own governance token META “in the near future.”

Earlier in January, the NEAR Protocol team raised $150 million under the leadership of Three Arrows Capital.

Earlier, the crypto-derivatives exchange FTX launched a venture arm. The entity will deploy $2 billion into investments in startups at various stages of development and in segments of the cryptocurrency market.

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