The Mintable platform raises $ 13 million and will integrate “carbon neutral” NFTs into the XRP ledger

An oversubscribed round of funding raised inedible Token Minting (NFT) Mintable and the market $ 13 million.

The Series A funding round for the Singapore-based startup includes a number of notable participants including Ripple, the mobile and blockchain game developer Animoca Brands, and Metapurse, the world’s largest NFT mutual fund.

Ripple released an announcement stating that Mintable plans to integrate its proprietary blockchain, the XRP Ledger (XRPL), which it claims is already carbon neutral and “ideal for providing a seamless experience for NFT.”

“Its environmentally friendly properties will enable billions of NFTs to be minted, purchased and transferred to XRPL in a sustainable manner.”

Mintable, now an Ethereum-based platform, is one of the crypto-related investments in the growing portfolio of Dallas Mavericks owner Mark Cuban. The billionaire investor previously participated in Mintable’s $ 2.5 million seed round in March.

The platform, launched in 2018, coined more than 700,000 items last year, enabling a growing portfolio of unique items such as digital art, music, furniture and more.

Mintable has sold and auctioned the works of many Grammy-winning artists and celebrities, celebrities and sports professionals, and implemented a unique gas-free embossing feature that allows users to create their NFT without high network fees.

In a July 1 announcement, Mintable announced that it would use the funds to focus on scaling its operations and driving growth and user acquisition initiatives.

RippleX General Manager at Ripple, Monica Long, said they invested in Mintable because of their shared vision of sustainable and affordable NFTs:

“Accelerating the growth of this creative economy begins with infrastructure that removes barriers to entry – such as high gas charges and the environmental costs of creating NFTs – that many people face today.”

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In late April, NFL Jacksonville Jaguars quarterback Trevor Lawrence sold an NFT collection for more than $ 400,000. In March, an NFT representing a 50% interest in a home in St. Louis was put up for auction on the Mintable platform.