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<ul class="summary-list"><li>Multicoin Capital and Jump Crypto led a $46 million funding round for Metaplex. </li><li>Nearly 100 individual investors also participated, including NBA legends <keyword id="11897663" type="UNKNOWN" weightage="60" keywordseo="michael-jordan" source="Orion">Michael Jordan</keyword> and Allen Iverson. </li><li>Metaplex allows users to build Solana-based NFT marketplaces, and has already been used to make over 85,000 projects.</li></ul>Metaplex, which allows users to build Solana-based NFT marketplaces, completed a $46 million funding round that included NBA legends Michael Jordan and Allen Iverson.Multicoin Capital and Jump Crypto led the fundraise, with <keyword id="11931714" type="UNKNOWN" weightage="60" keywordseo="solana" source="Orion">Solana</keyword> Ventures, Alameda Research, and Animoca Brands also participating — in addition to nearly 100 individual investors. The capital infusion will allow the company to expand more broadly into gaming and <keyword id="11121339" type="UNKNOWN" weightage="60" keywordseo="metaverse" source="Orion">metaverse</keyword> applications in 2022, and also provide grants to support underrepresented communities, according to Metaplex. The company's protocol has been used to make over 85,000 projects and over 5.7 million <keyword id="11901075" type="UNKNOWN" weightage="60" keywordseo="nfts" source="Orion">NFTs</keyword> since it launched in June 2021, according to <a href="https://www.metaplex.com/">Metaplex</a>. Since then, it also has handled $385 million worth of NFT transactions, led by Degen Ape Academy and Aurory."We believe the metaverse will be open, censorship-resistant and globally accessible," Sergey Vasylchuk, director of the Metaplex Foundation, said in a press release. "In this metaverse, Metaplex will serve as a common protocol and NFT standard to empower the next wave of decentralized commerce, social and gaming experiences."Cryptocurrency exchange FTX supported Metaplex's initial launch of its NFT marketplace, as the platform was meant to bolster the infrastructure of the Solana network. In September, <a href="https://www.coindesk.com/business/2021/09/29/solana-based-nft-firm-metaplex-names-adam-jefferies-ceo-of-new-studio/">Metaplex tapped Adam Jefferies as new CEO</a>, while naming high-profile board members from Coinshares, Saber Labs, and Cultur3 Capital.Interest in the startup comes as the total market capitalization of Solana's NFT market recently passed $1 billion, per <a href="https://www.solanalysis.com/">Solanalysis data</a>. JPMorgan noted that <a href="https://markets.businessinsider.com/news/currencies/ethereum-eth-killers-nfts-defi-solana-cardano-wax-crypto-investing-2022-1">ethereum is losing ground to rivals in the NFT marketplace</a>, and that solana could see a boost. Due to sky-high transaction fees on the network, the bank's analysts found that <keyword id="11892696" type="UNKNOWN" weightage="60" keywordseo="ethereum" source="Orion">ethereum</keyword>'s NFT volume share has fallen from 95% to around 80% over the past year.

Michael Jordan-backed NFT marketplace Metaplex raises $46 million in latest funding round to expand into metaverse

<ul class="summary-list"><li>FTX.US is launching a marketplace that will allow users to mint, authenticate, and trade NFTs on the solana blockchain.</li><li>The 29-year-old billionaire founder of FTX, Sam Bankman-Fried, has been a big supporter of the solana blockchain.</li><li>FTX also has plans to roll out support for ethereum-based tokens, which account for the majority of NFTs that are trading.</li></ul>FTX.US, an affiliate of cryptocurrency exchange FTX, is launching an <keyword id="4668945" type="General" weightage="60" keywordseo="nft" source="Orion">NFT</keyword> marketplace that will allow users to mint, hold, authenticate, and trade digital collectibles on the <a href="https://markets.businessinsider.com/currencies/usd-pen">solana</a> blockchain, the company announced Monday. This is a step up from FTX's prior offering of only allowing users to trade NFTs, or non-fungible tokens, minted on its website. <cmsannotation type="cmsannotation" annotationid="wazirx" comment="wazirx" text="wazirx">wazirx</cmsannotation> FTX also has plans to roll out support for <a href="https://markets.businessinsider.com/currencies/eth-usd">ethereum</a>-based tokens, which account for the majority of NFTs that are trading. The marketplace, which is available to US customers, supports all solana NFTs that conform to the Metaplex standard, a solana-powered protocol. It also allows users to transfer existing NFTs and will provide project creators with full control over the NFT's life cycle. In addition, the new marketplace, dubbed FTX NFTs, will support bank transfers, wire transfers, or credit cards to purchase NFTs. Newly minted NFTs can be listed in either US dollar, solana, or ether. Unlike OpenSea, the most prominent and biggest ethereum-based NFT marketplace, users who wish to trade in the FTX marketplace are required to open accounts that verify their identities, immediately disqualifying those who may want to transact anonymously. While it is unclear why the firm prioritized solana for this marketplace, it is no secret that the 29-year-old billionaire founder of FTX, Sam Bankman-Fried, has been a <a href="https://markets.businessinsider.com/news/currencies/sam-bankman-fried-crypto-solana-sol-outage-altcoins-stablecoins-ftx-2021-9">big supporter</a> of the blockchain. Solana is cheaper and faster than ethereum and is often dubbed as its rival. "We decided to create an NFT marketplace on FTX US after becoming immersed ourselves in the NFT ecosystem," Brett Harrison, president of FTX.US, said in a statement. "The NFT ecosystem has started to infiltrate pop culture, but has been lacking a platform that provides easy access and exposure to the mainstream audience." NFTs - <a href="https://www.businessinsider.com/non-fungible-tokens-nfts-have-taken-over-heres-why-theyre-important-2021-4?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestmp;utm_medium=ingest" target="_blank">digital representations</a> of artwork, sports cards, or other collectibles tied to a blockchain - have surged in popularity this year. When people buy NFTs, they gain the rights to the <a href="https://www.businessinsider.com/why-are-people-buying-nfts-investing-in-nft-crypto-art-2021-3?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestarkets&amp;utm_medium=ingest" target="_blank">unique token</a> on the blockchain, not the artworks themselves. But the fact that the information on a blockchain is next to impossible to alter makes NFTs appealing, especially to collectors and artists.

FTX launches US marketplace for solana NFTs with plans to expand to ethereum-based tokens

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Michael Jordan-backed NFT marketplace Metaplex raises $46 million in latest funding round to expand into metaverse

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FTX launches US marketplace for solana NFTs with plans to expand to ethereum-based tokens

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