Finance
Share this article

Animoca Brands Leads $8M Fundraising Round for NFT Platform Built on Solana

The funding will go toward expanding Burnt Finance’s headcount and tapping new partnerships with artists and other Solana-based projects.

By Tanzeel Akhtar
Updated May 11, 2023, 5:52 p.m. Published Jan 17, 2022, 2:00 p.m.
(Gift Habeshaw/Unsplash, modified by CoinDesk)
(Gift Habeshaw/Unsplash, modified by CoinDesk)

Burnt Finance, a protocol built on Solana, has raised $8 million in a funding round led by Animoca Brands. The protocol also launched its non-fungible token (NFT) platform.

  • The capital will go toward adding staff and exploring partnerships with artists and other Solana-based projects.
  • Burnt Finance, known for burning a piece of artwork from street artist Banksy before selling a digitized version as an NFT, also said it has launched its NFT marketplace, which will feature auctions and allows users to mint and sell digital assets.
  • Other investors in the round included Alameda Research, Multicoin Capital, Valor Capital, Figment, Spartan Capital, HashKey, Terra, Fantom and others.
  • Alameda and Multicoin led the protocol’s $3M fundraising round in May.
  • “We are now looking to expand onto other chains such as Terra and Fantom while building out new functionalities that bridge the worlds of DeFi [decentralized finance] with NFTs,” the Burnt Finance team, which insists on anonymity, said in an emailed statement.
  • The team sees demand for NFTs continuing to surge. Data from ​​DappRadar shows the NFT market reached $22 billion in 2021.

Read more: Banksy Burners Raise $3M to Build NFT Platform on Solana

STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy.
Burnt FinanceSolana NewsNFTsFunding

Higit pang Para sa Iyo

What to expect at CoinDesk's Consensus Hong Kong 2026

Ni Nikhilesh De|Edited by Sheldon Reback
1 oras ang nakalipas
Consensus Hong Kong logo

Consensus Hong Kong kicks off on Wednesday with speeches from the city's chief executive and the head of its markets regulator.

Ano ang dapat malaman:

  • Consensus Hong Kong 2026 starts Wednesday with more than 10,000 attendees and 350 speakers discussing tokenization, stablecoins, AI and other crypto themes.
  • The two-day conference follows recent volatility in bitcoin, which plunged from above $95,000 to near $60,000 before rebounding to about $70,000 in a matter of weeks.
  • Speakers include Hong Kong Chief Executive John KC Lee, Animoca co-founder Yat Siu, Solana Foundation President Lily Liu and BitMine Chairman Tom Lee.
Basahin ang buong kwento