Ceras Ventures is diving into the largest NFT platform based on NEAR ecosystem.
May 20, 2022, 1:47:55 PM
Ceras Ventures is thrilled to announce our investment in Mintbase. The pioneering NFT Utility Infrastructure on NEAR will be a game-changer.
Ceras Ventures is thrilled to announce our investment in Mintbase. The pioneering NFT Utility Infrastructure on NEAR will be a game-changer. $12.5 million has been raised in series A round funding ($7.5M VC +$5M NEAR grants program) and is backed by Coinbase Ventures, Libertus Capital, Sino Global Capital, Animoca Brands, Fundamental Labs, Figment, TRGC, Woodstock, IOSG Ventures, Bixin Ventures and more. Mintbase will use the funding from the series A round to focus on the developers and entrepreneurs pioneering the new digital economy.
Mintbase was launched in 2018 on ETH and moved to NEAR in 2020 to create a foundation to ship faster, integrate with other projects, and empower the open-source community to contribute to the network. Using our open-source component library, others will be able to build their own marketplaces much easier, comparing the UI elements as the components will grow. Therefore, Mintbase is not just another NFT marketplace, but it empowers to build your own minter, market, and NFT redeeming systems. The future is niche markets, operated by you on sharded, decentralized, green POS chains.
Mintbase does not participate in the PFP pumps as they focus on building core infrastructure on a super new chain based on NEAR. They firmly believe that once people learn the power of owning their own smart contracts and how this can scale, it’s going to get interesting. Furthermore, they aim to incentivize people to build their own NFT projects and they are invited to use their toolkit.
In other words, a Mintbase Store is an independently smart contract, where owners can add other minters (DAO, company, person, nonprofit) to it and add up to 50 royalties and single payment splits. Mintbase is currently managing over 1086 stores.
We have a strong belief that the future is about niche NFT utility markets, led by Mintbase, which will attract further companies, entrepreneurs, and no-code users. Their goal is to support the developers and entrepreneurs of tomorrow to build their own NFT redeeming, selling, and distribution tools off our infrastructure.
NFT’s current market is expected to grow
The global NFT market size is expected to grow from USD 3.0 billion in 2022 to USD 13.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 35.0% from 2022 to 2027 according to Markets and Markets report 2022.
The major factors fueling the NFT market include the increasing influence of celebrities to fuel the momentum of NFT adoption, revolutionizing the gaming industry and the slow but continuing rise in demand for digital artworks. Moreover, increasing use cases of NFT in supply chain management, retail, and fashion, efforts of industry giants toward making Metaverse a reality, and personalization of NFT would provide lucrative opportunities for NFT vendors.
Therefore, the niche NFT market, targeted by Mintbase, has strong growth potential in the future.
NEAR as an efficient foundation for Mintbase
Back in 2020, most other NFT platforms saw the hype and built their projects on Ethereum or ETH copy-paste chains. Mintbase deployed on ETH in 2018, however, Mintbase stopped and re-wrote every line of code in rust and deployed it on the NEAR main net in May 2021.
In the near future, non-sharded chains will succeed as an alternative to centralized exchanges, but we are confident that chains without sharding will struggle to hold real value in the future.
Mintbase has been building on NEAR for over a year, the current usage is at 10% of the innovative capabilities like connection allowances, private key swapping, and contract function restrictions.
About Ceras Ventures
We are a global leading investment firm committed to cutting-edge technology projects in Web 3.0 and crypto space to create long-term value-oriented investment and digital asset management. Our scope covers global digital assets and projects with growth potential to provide careful stewardship and achieve capital appreciation.
Since our start of business in 2014, we firmly believed in innovation and the path forward of the digital economy with the development of blockchain technologies which are extremely evolving. As growth is our key vision, our company is named after the Latin word ‘ceres’ which means ‘growth’. We aim to grow with our partners in a sustainable way of economic transition.
Our investment perspectives cover the areas of Defi, Web 3.0 Infrastructure, Metaverse, NFT, DAO and disruptive technologies.
Our mission is Value Counts. which is to make every interaction and collaboration count to move forward together successfully.
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