NFT marketplace Blur, aimed at professional traders, has raised $11 million in seed funding in a round led by Paradigm.
Psyched to announce @paradigm‘s investment in @blur_io, who is on a mission to build the premier NFT marketplace for pro traders. If you’re a pro NFT trader and want to get on the waitlist, DM’s are open. https://t.co/i2QSrvaJL6
— CASΞY (@caseykcaruso) March 28, 2022
Round participants also included eGirl Capital, 0xMaki, LedgerStatus, and other venture investors.
“Active NFT marketplaces prioritise the retail user experience but ignore the growing needs of professional traders,” the startup’s blog states. “The infrastructure is strained as monthly trading volumes reach into the billions.”
The developers outlined Blur’s mission: to address the segment’s problems, “bringing the NFT space closer to an institutional level while simultaneously increasing decentralisation.”
As a reminder, the company behind the NFT collection Bored Ape Yacht Club, Yuga Labs, raised $450 million at a $4 billion valuation.
Earlier, the startup Immutable raised $200 million in a Series C round led by Temasek.
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