Why Ripple Invested in This NFT Platform Buy Now, Pay Later

The payment company Ripple invested in the non-fungible token (NFT) financing platform Supermojo, according to a press release shared with Bitcoinist. The platform operates under innovative point-of-sale financing aimed at making these digital assets more accessible “to the next wave of users”.

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Supermojo recently completed a seed round led by major players in the crypto industry, such as BH Digital, DRW Venture Capital, Intersection Growth Partners and Neuberger Berman. The platform also saw participation from relevant names such as Gemini, Arca, Arrington Capital, Circle Ventures and Ripple.

The NFT marketplace was co-founded by two former Ripple executives, Amir Sarhangi, CEO of Supermojo, and Craig DeWitt, the platform’s product and engineering manager. According to the press release, the NFT financing platform will provide users with an “improved” NFT purchasing experience.

In addition, users will be able to access “improved” liquidity after the sale by lending their assets. Supermojo was created with the ultimate goal of, according to the release, making NFTs available via flexible payment and giving users unique liquidity options.

Sarhangi said the following about their vision for Supermojo and its funding model:

The NFT market must welcome new users to continue scaling. NFT marketplaces and store fronts have not yet offered the payment methods most people know when they buy online. “Buy now, pay later” experiences are essential for excellent payment experiences.

Supermojo is focused on gaining new partnerships, and their latest start-up round seems to be a step in that direction. Sarhangi added:

Our team at Supermojo is committed to providing a more seamless, intuitive and accessible NFT purchasing, financing and depot experience for the next wave of NFT users, from checkout to resale. We are excited to get started with our incredibly talented team and partners to deliver a frictionless NFT experience to the next wave of users.

Ripple and Supermojo support the next wave of NFT investors

The Ripple-supported NFT funding platform focuses on this sector’s potential to expand and gain more ground in the coming years. Supermojo’s product and engineering manager claims that digital assets will eventually become the “largest market in the world”.

Therefore, why they focus on improving the user experience and accessibility “, especially those without crypto expertise”, said DeWitt. Supermojo has a payment and lending platform that will be familiar to users with less technical expertise and crypto-knowledge.

Andrew Steinwold, managing partner of Sfermion, one of Supermojo’s investors, said:

There is a significant appetite for a built-in Buy Now, Pay Later model for NFTs, which makes Supermojo uniquely positioned to drive the next development of this ecosystem. This type of innovation is crucial for the sustained growth of the space, and we are excited to support Supermojo and its strong management team of highly experienced operators and visionaries to deliver a much-needed product.

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At the time of writing, XRP’s price is trading at $ 0.3 with a profit of 1% over the last 24 hours.