PolkaRare successfully closes funding round and have raised $2 million from industries top investors
The leading non-fungible token (NFT) Marketplace for the rarest NFTs, PolkaRare, is proud to announce a successful fundraise of 2 Million USD from notable investors in the blockchain space, the rounds were participated by more than 150+ participants including Top investors, Influencers, and Exchanges and oversubscribed by more than 25x. PolkaRare is a web3.0 economy for users to create, trade, and discover some of the most extraordinary digital assets.
The funding was supported by our strategic partners and some of the biggest innovators in the industry. The investors include AU21 Capital, Astronaut Capital, OKEx Blockdream Ventures, X21 digital, Digital Finance Group (DFG), Playcent Capital, Moonrock Capital, Morningstar ventures, Momentum 6, ExNetwork Capital, Genesis BLock Ventures (GBV), Onchain Capital, IceTea Labs, Magnus Capital, Chronos Ventures, GenBlock Capital, Moonwhale Ventures, BlockSync Ventures, Raptor capital, Lotus Capital, Kyros Ventures, Titan Ventures, De(0de Capital, DAOMaker, BTA Ventures, CinchBlock & Fomocraft Ventures along with Founders from various top Blockchain Projects with a collective market cap over $10B+ and Top influencers who have a collective reach of more than 100M.
The NFT market tripled in 2020 alone, with the total value of transactions exceeding 250 Million USD. NFTs are unique blockchain-based digital assets and one cannot simply interchange one for another. One NFT represents one unique digital asset. Many marketplaces have emerged recently where people can buy and trade NFTs. These marketplaces unfortunately have high transaction fees.
PolkaRare will tap into the most unexplored NFTs marketplaces and improve the mass adoption of NFTs. By leveraging NFT’s provable scarcity, transferability, and PolkaRare’s unique offerings, it aims to unlock its full potential. It is working on a web3 economy for unique and scarce digital assets.
Thanks to this successful funding, we are now equipped to build a versatile multi-chain NFT platform where users can trade rare NFTs, optimize their preferred blockchains & seamlessly transfer across networks. It is powered by Polkadot, Polygon, Ethereum & Binance Smart Chain and envisions making the most out of NFTs.
Most NFT platforms are based on Ethereum. However, current Ethererum network congestion issues have become a bottleneck for NFT creation and trading. Polkarare platform targets to be a multi-chain NFT platform, where creators and users can optimize the blockchains they want to use, and seamlessly transfer them across different networks.
The initial phase of the platform allows NFT creation on Ethereum and Polygon chains. In phase 2, we will add NFT creation on the BSC and gradually extend it to other blockchain networks.
PRARE NFTs will be ERC1155 compatible & work with external systems that support the same. PRARE is our utility & governance token and is an ERC-20 compatible token. It is the primary mode of payment on PolkaRare & often used as staking rewards. It is the authoritarian unit that allows users to create and vote for proposals.
The details for the Polkarare Public Sale will be out soon. Please stay tuned for the details. The Polkarare team would like to express their gratitude to the community and investors for their incredible support in our journey of driving NFT to the masses. We will always be indebted for the trust you have put in us.
Polkarare is a web3 economy that supports unique and precious digital assets. It is a multichain NFT marketplace powered by Polkadot, Polygon, Ethereum, and Binance Smart Chain. Its native token, PRARE, is a governance token that can be used as staking rewards, a medium of exchange, and for NFT farming. Polkarare will be a platform to showcase rare NFT collections which include licensed art, music, and sports cards.
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