NFT Marketplace Tabi Secures $10M in Angel Funding – Cryptopolitan
In an announcement on May 10, Tabi, an emerging player in the world of nonfungible token (NFT) marketplaces, formerly known as Treasureland, reported the successful acquisition of a substantial $10 million in a recent angel funding round.
The news marks a significant milestone in Tabi’s journey as it continues to navigate the exciting landscape of blockchain technology.
Tabi receives a solid injection of capital
This funding round saw contributions from renowned venture capital firms such as Animoca Brands, Binance Labs, Draper Dragon, Hashkey Capital, Infinity Crypto Ventures and Youbi Capital.
Personal investors also made a splash, including individuals such as Bo Feng of Dragonfly Capital, Riyad AD of Saudi Arabia and Suji Yan of Mask Network.
This fresh influx of resources is primarily aimed at improving and developing Tabi’s unique gaming ecosystem. In addition, the funds will also be used to establish the forthcoming identity protocol on the chain.
Tabi offers more than just a marketplace for NFTs. It has ingeniously integrated a function that turns users’ activities on the chain into “experience points”. These points can be exchanged for future airdrop rewards and earnings, effectively providing the user experience in the blockchain space.
The platform also has an integrated gaming platform that consolidates blockchain gaming transactions and provides a hub for blockchain-based entertainment.
According to Xavier Lee, the founder of Tabi, the platform plans to launch an “NFT incubation fund.” The fund is designed to stimulate and motivate developers to create their products, art and brand in the BNB chain, promoting an atmosphere of creativity and innovation.
This is a notable element of Tabi’s strategy, further expanding the reach and utility of the BNB chain in the NFT world.
Established in 2021, Tabi has not forgotten its early backers and has announced a rewards plan, coinciding with the funding announcement. The plan is a testament to Tabi’s commitment to the community and its desire to ensure that its early supporters are suitably rewarded.
Binance and the booming NFT market
It is worth noting that Binance has escalated its operations in the NFT sector this year. In early March, the company’s native NFT AI generator, aptly named “Bicasso,” hit the 10,000 mint mark in less than three hours after launch.
Shortly after, Binance declared that it would incorporate Polygon support into its own NFT marketplace, further illustrating its commitment to this burgeoning sector.
Furthermore, OpenSea, recognized as the most popular NFT marketplace at the time last November, announced its intention to incorporate BNB Chain into its marketplace, offering users the ability to buy, list and trade BNB Chain NFTs directly on OpenSea – the platform.
The recent funding announcement marks a pivotal moment for Tabi as it continues to shape and grow within the dynamic world of NFTs.
With a unique approach to user engagement, commitment to innovation and strategic application of newly acquired funding, Tabi is poised to make a significant impact on the NFT market.
Disclaimer: The information provided is not trading advice. Cryptopolitan.com has no responsibility for investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.
