Daily Newsletter by NFT Newspaper

NFT Infrastructure Platform Startup NFTPort Raises $26M

Estonian NFT infrastructure startup, NFTPort, announced that it had raised $26 million in new funding, co-led by Atomico and Taavet+Sten.

The new series A was also joined by Sparkle Ventures, Filecoin creator Protocol Labs, IDEO CoLab Ventures, and many others. NFTs have become the focus of many growing economies of digital collectables.

The co-founder and chief executive of NFTPort stated, “We believe that NFTs are short-term overvalued, especially as they are portrayed today as collectibles.” He also said that it is a long-term undervalued as it enables the true ownership and interoperability in growth.

According to Tammekänd, NFTs can serve the purpose of breaking up Web 2.0 data silos by providing the actual ownership to users of their precious data.

NFTPort Infrastructure Helps With Programming Interfaces

NFTPort’s infrastructure service helps developers by providing them with application programming interfaces to access NFT creation, called minting. Currently, the blockchains it supports are Ethereum, Polygon, and Solana.

With the programming interfaces, the developers can easily and quickly create, manage and deploy NFTs without any need of contract coding. The NFTPort’s infrastructure manages all of that itself. The main idea behind the NFTPort is to offer simple infrastructure and APIs for NFTs to developers.

According to the metrics of the company, over 300,000 developers have put their infrastructure to use deploying NFTs. The services of the NFTPort are also used by large-scale Web3 companies, including Protocol Labs and Nifty Gateway.

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