NFT Labs Raises $1.9M In Private Funding Round For Its Marketplace

NFT Labs is happy to announce it has completed its funding round, raising about $1.97 million for the ITSMYNE marketplace.

As per the announcement, NFT Labs raised $1,062,600 during its private round that saw the participation of various investors, including BlockStart Ventures, Shima Capital, Oracles Investment Group, CyberFi, AU21 Capital, Kangaroo Capital, and many others.

Commenting on the funding round, the NFT Labs team said:

“We believe the collective forward momentum of the entire NFT industry can be accelerated by tapping into the value held by premium IPs, especially in cinema and sports. These are industries with highly engaged, but yet-untapped audiences and consequently lack the collective ecosystem that a motivated community can bring.”

The private funding round followed a $207,000 seed round, a $200,000 strategic funding round, and a public round that raised $500,400. In total, NFT Labs and ITSMYNE have raised $1.97 million in funding.

ITSMYNE is a social plus marketplace for official licensed sport NFTs. The platform is easy to use community-oriented, allowing users to collect and trade NFTs from cinema and sports industries. The platform is popular among non-fungible token fans because it allows them to talk and trade NFTs. The platform also allows users to start collecting NFT immediately. Note all NFTs form part of a curated collection and are officially licensed.

By design, the ITSMYNE platform was created as a green initiative seeking to provide a sustainable blockchain future for the global blockchain community. This allows the NFT minting process to consume less energy compared to other NFT minting processes. Other notable features include auto split of earnings, allowing fiat currency, a great support system, and advertising opportunities, among many more.

Notably, in the coming days, ITSMYNE plans to hold its Initial DEX Offering (IDO) for the MYNE BEP-20, NFT Labs’ native token, through the CardStarter platform. The IDO will reportedly help achieve a fair distribution of the MYNE BEP-20 token. The IDO grants users access to the MYNE tokens that save as the gateway to the ITSMYNE platform and its partner products.

Commenting on the upcoming IDO, CardStarter’s CEO, Aatash Amir, stated:

“Cardstarter is proud to bring a promising project to the social token economy. ITMYNE serves a valuable niche that will eventually serve as the gateway between traditional social media and blockchain-based social economies.”