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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source:https:\/\/techcrunch.com\/2022\/08\/09\/pinata-raised-21-5m-to-scale-nft-media-infrastructure\/<\/a><\/br> Pinata, an NFT-focused media distribution platform, has raised a total of $21.5 million in funding, the company exclusively told TechCrunch.<\/p>\n This is the only capital the four-year-old company has raised to date. The total amount came from a recently closed $18 million Series A and $3.5 million seed round in 2021, Kyle Tut, co-founder and CEO of Pinata<\/a>, said to TechCrunch. The Series A was co-led by Greylock and Pantera, and the seed round was co-led by Greylock and Offline Ventures. Other investors include Volt Capital, OpenSea and Alchemy.<\/p>\n The Omaha, Nebraska-based business provides media<\/a> infrastructure and support for NFT marketplaces, metaverses, web3 apps and other crypto projects. It allows users to manage, share and monetize their media<\/a> on any blockchain like Ethereum, Solana<\/a>, Polygon, Avalanche and Algorand, to name a few.<\/p>\n \u201cWe power a significant portion of web3,\u201d Tut said. \u201cSome of the biggest names in the space are using us. Those users range from non-technical creators to software engineers.\u201d<\/p>\n In the past year, Pinata\u2019s revenue growth has increased 42 times year over year, Tut said. Since January, its user base increased about 131% from 104,000 users to over 240,000 users as of today, Tut shared. Companies like OpenSea<\/a>, DraftKings, Protocol Labs and Yuga Labs<\/a> also use the platform.<\/p>\n \u201cAs you fast-forward into today, we\u2019ve seen that ultimately NFTs act as if they\u2019re their own applications,\u201d Tut said. \u201cThey want to serve content to millions of people like YouTube or TikTok does, but a lot of these applications don\u2019t have the ability to do so yet.\u201d<\/p>\n The platform provides infrastructure for both emerging creators and enterprises to store, manage and build more functionality into their NFTs, Mike Duboe, partner at Greylock, said in a statement shared with TechCrunch.<\/p>\n
\nPinata raised $21.5M to scale NFT media infrastructure<\/br>
\n2023-01-20 22:21:57<\/br><\/p>\n