NFT company Rarify receives a $10 million investment in its Series A Funding Round

Rarify has raised $10 million in its recent Series A funding round. Rarify is a company that aids in NFT creation by producing infrastructure for third parties to integrate NFT services. The recent fundraising campaign has allowed the company to reach a valuation of $100 million.

Rarify aims to streamline the process of creating and selling NFTs. According to co-founder, Revas Tsivtsivadze, the company hopes to aid creators and buyers much like how “Square made it super easy to accept payments.”

As part of its expansion process, Rarify will use the newly gained funds to start hiring more aggressively and launch NFT projects with its corporate partners.

Paul Veradittakit from Rarify’s partner company Pantera has stated that “Rarify removes the biggest hurdles companies face when introducing NFTs to their existing products.”

He then added that Rarify’s solutions can “make NFTs accessible to companies and, by extension, consumers at large.”

Rarify’s growth and success heavily mirror the increased interest in NFTs as the art and gaming industries continue to use these tokens in their businesses. However, some remain skeptical about the validity and sustainability of these tools.

Traditional game companies in particular have widely experimented with NFTs. One example is Ubisoft, as it has released its NFT market called Quartz. In response to this phenomenon, Rarify aims to promote the use of NFTs in larger companies by offering solutions so “that teams don’t need to stitch together disparate systems or spend months integrating blockchain technology,” according to the mission described on its website.

Source: Bitcoin News