Nifty Inc partners with Warner Bros to launch a new social NFT platform with a backup seed investment worth $10 million from big venture firms of the blockchain as we can see more in our latest cryptocurrency news.
The kick-off of the Nifty social NFT platform got excited today again as news emerged that Nfity Inc partners with Warner Bros to launch an NFT social platform. The collection of NFTs is limited edition and according to the company’s announcement, the collection will feature characters from “Space Jam: A New Legacy.” ConsenSys, the ETH software company, developed the NFT for Space Jam using Palm NFT Studio’s technology. The investment of $10 million came from major investors like Samsung NExt, Palm NFT Studio, and BBTV Holdings Inc.
Other investors include A&T Capital Ventures, Coinbase Ventures, Forerunner Ventures, Topps, Liberty City Ventures, Dapper Labs, and HENI. Some pre-seed investors supported Nifty’s platform launch by their stake in the platform and some of the pre-seed investors include Ethereal Ventures, Draper Dragon Fund, and Polychain Capital. The Executive Vice President at Samsung David Lee praised and publicized Nifty’s innovation in the NFT confinement.
He explained that the business is committed to growing in the future, by identifying the necessary ideas, technologies, and trends. Lee commended Nifty’s for the new development in a concise time. He expressed his anticipation of how the NFTs will influence the future. Earlier this March, Nifty’s made the first announcement about their social media platform that is NFT-focused. The announcement mentioned that the bigger investors will include Joseph Lubin and Mark Cuban.
Nifty’s made its first announcement about the social media platform NFT focused and it mentioned that the big investors will include Joseph Lubin and Mark Cuban with a vision for the project to develop a new platform that will create a community for digital collectibles. The platform is to increase the personal interactions among the users and support the latest art scene. The NFTs market recently in this year experienced growth and one of the major factors for it was the increasing acceptance in the mainstream for crypto. However, the adoption also robbed off to inculcate digital collectibles. As per the reports, the sales of NFTs increased to $2.5 billion in the Q1 of this year.
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