NFT&39s (non-fungible tokens) gain even more momentum as NFT marketplace MakersPlace raises $30M from big-name investors. NFT is a cryptographic asset that uses blockchain technology to certify ownership of digital items. MakerPlace enables the creation and circulation of those items. The likes of rap star Eminem, Sony Music, and others are part of the investment group backing this path carving the NFT trading platform. According to MakerPlace, Coinbase Ventures, Uncork Capital, Draper Dragon Digital Assets, 9Yards Capital are also among the investors. These prominent names have a history of investing in blockchain technology platforms that promises enormous growth, MakersPlace is no exception.
"We see this fundraise as continued validation for our mission," stated Dannie Chu, chief executive of MakersPlace. "We will continue to push boundaries and empower digital creators with better tools and services while finding more ways to introduce digital art and NFTs to a mainstream collector audience." 2021 has seen big growth for MakersPlace. Collectors using the market have grown by ten times, processing over 100 million transactions. The NFT market peaked at $250 million in the month of May but shows signs of passing that volume high soon.
Evolving the industry of digital ownership in Art and Music is just the start, but currently the most popular of NFT applications. Though the idea of digital ownership has existed for a long time in the video game industry and online applications, these new presentations introduce the element of scarcity through verifiable authenticity and uniqueness on a blockchain. Taking an existing popular concept and making it even more desirable and collectible. People, especially the young, are growing to find digital ownership a concept that is more familiar, comfortable, & adds value to their digital experiences. Massive growth in the NFT sector is pretty easy to forecast. Top marketplaces like MakersPlace will be the springboard for some innovative collectible expressions.