Michael Jordan And Allen Iverson Invest In $46M Funding Round For NFT Marketplace Metaplex

By: April Carson



The Michael Jordan and Allen Iverson-led investment firm, which enables users to create Solana-based NFT marketplaces, has completed a $46 million round that included NBA legends Michael Jordan and Allen Iverson.


Multicoin Capital and Jump Crypto led the fundraising, which was backed by Solana Ventures, Alameda Research, and Animoca Brands in addition to nearly 100 individual investors.


According to Metaplex, the funding will allow the firm to branch out into gaming and metaverse applications in 2022, as well as make financial contributions to underrepresented groups.


According to Metaplex, the firm's technique has been utilized to create over 85,000 projects and more than 5.7 million NFTs since it debuted in June 2021. It has also managed $385 million worth of NFT transactions since then, with Degen Ape Academy and Aurory leading the way.


The metaverse will be "open, censorship-resistant, and globally accessible," according to the Metaplex Foundation's director Sergey Vasylchuk. "Metaplex will function as a global common protocol and NFT standard for the next generation of decentralized commerce, social, and gaming activities in this metaverse."


Metaplex used the infrastructure of Solana, a blockchain technology created by FTX, to launch its NFT marketplace.


Metaplex announced in September that it had hired Adam Jefferies as its new CEO, with notable board members from Coinshares, Saber Labs, and Cultur3 Capital on the roster.


The interest in the firm comes as Solana's NFT market's overall market capitalization has recently surpassed $1 billion, according to data from Solanalysis.


JPMorgan analysts noted that Ethereum is losing ground to competitors in the NFT space, and that Solana may benefit. The bank's researchers discovered that because of high network transaction costs, Ethereum's NFT volume share had dropped from 95% to around 80% over the previous year.






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About the Blogger:


April Carson is the daughter of Billy Carson. She received her bachelor's degree in Social Sciences from Jacksonville University, where she was also on the Women's Basketball team. She now has a successful clothing company that specializes in organic baby clothes and other items. Take a look at their most popular fall fashions on bossbabymav.com


To read more of April's blogs, check out her website! She publishes new blogs on a daily basis, including the most helpful mommy advice and baby care tips! Follow on IG @bossbabymav


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