Metaplex is raising funds for their blockchain and game development platform that will allow users to create, trade, sell and play in-game assets. This may be the first of a wave of token sales from games with new platforms on the horizon.

Metaplex is a decentralized platform that offers the ability to create and manage virtual worlds. The company raised $46 million through its latest token sale.

Metaplex Raises $46 Million Through Latest Token Sale

Metaplex, an open-source NFT system, has earned a whopping $46 million in its current token sale, with the goal of using the proceeds to support a foray into NFT games and metaverse applications.

Multicoin Capital and Jump Crypto spearheaded the fundraising effort, with help from Solana Ventures, Alameda Research, and Animoca Brands, as well as a slew of individual investors, including NBA luminaries Michael Jordan and Allen Iverson.

Metaplex plans to utilize the funding to grow its gaming and metaverse efforts in the future by developing a fleet of apps that will fit into its overall strategy. Because NFTs are closely tied to the futures of both media, the protocol’s development follows an organic path, positioning it for a year of tremendous growth.

“We are keen to support projects & developers who are expanding the functionality of the @Metaplex protocol” @stphnhss

Focuses: 🦾 Introducing an open NFT standard & minting program 🦾 Tools that further enable P2P commerce & Web3 identity systems using an on-chain social graph

January 18, 2022 — Metaplex (@metaplex)

With a little support from the FTX exchange, Metaplex’s NFT marketplace landed on the Solana network in June. According to estimates, it has helped create over 5.7 million NFTs for over 85k projects since then, exhibiting a great tactical nous that will let it compete with the big guns.


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