A blockchain project designed to enable the creation of new types of digital assets and their individual ownership is announcing its latest round of funding. Holaplex, which raised $6 million in October from investors like Polychain Capital, has been working on a platform for over two years now that will not only be able to launch these NFTs but also connect them with existing games or other apps.

The “nft trading platform” is a cryptocurrency-based platform that uses the Holaplex consensus mechanism. The company has raised $6 million for development.

Solana-Based NFT Platform Holaplex Raises $6 Million for Development

Holaplex, a Solana-based NFT platform, reported earlier this week that it had secured $6 million in early investment. The funding will be used to assist the Holaplex technical team’s growth and development, as well as open-source contributions to Metaplex, a decentralized Solana-based protocol.

The platform provides free tools for artists, musicians, and producers to create and sell NFTs, as well as over 2,000 storefronts for collectors to find new creators. This is accomplished by enabling creators to create their own NFT stores without having to know how to code.

The seed financing was headed by CoinFund, with participation from Solana Capital, Social Capital, Valor, Collab+Currency, and Blockchain Coinvestors, according to a public release.

Alex Kehaya, the platform’s founder, said that the platform’s goal is to empower creative all around the globe. “Holaplex works behind-the-scenes with open-source Rust developers and Solana fans to create the no-code, click-and-publish experience required by today’s tools for artists and creatives.”

“The NFT ecosystem so far is lacking a suite of tools for marketing and developing NFTs,” Jake Brukhman, CEO of seed round-leaders Coinfund, said. Holaplex’s strategy to deliver these products to a wider audience and equip them with Web3’s cutting-edge features.”

Artists must first create a wallet that takes Solana tokens in order to utilize Holaplex. Users may then generate NFTs of their artwork, which they can advertise on their shop or send and distribute internationally.

Holaplex has also announced a number of planned product releases, including new storefront templates, a no-coding-required tool for creating generative drops, and the launch of a decentralized discovery engine for finding and promoting artists.

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