Quick take:
- Tabi has announced a $10 million funding round from Web3 Vcs and Angel investors.
- The round was backed by Animoca Brands, Binance Labs, Draper Dragon, Hashkey Capital, Infinity Crypto Ventures, and Youbi Capital.
- Dragonfly Capital’s Bo Feng, Riyad AD of Saudi Arabia, and Suji Yan of Mask Network also participated in the round.
NFT Marketplace Tabi has completed a $10 million funding round from leading web3 venture capital firms and angel investors. The fundraising attracted participation from Animoca Brands, Binance Labs, Draper Dragon, Hashkey Capital, Infinity Crypto Ventures, and Youbi Capital.
Dragonfly Capital’s Bo Feng, Riyad AD of Saudi Arabia, and Suji Yan of Mask Network joined as individual investors.
The BNB Chain-based platform said it will use the funds to build a gaming ecosystem on the Layer1 blockchain. The developers of the platform also indicated that some of the funds will go towards developing Tabi’s upcoming on-chain identity protocol.
Tabi’s ecosystem includes an NFT trading platform and a toolkit that developers can use to quickly launch their projects. The platform also rewards users by converting their activity into experience points, which can be redeemed for future airdrops and benefits.
According to Tabi founder Xavier Lee, the company wants to expand its ecosystem with an “NFT Incubation Fund” to encourage developers and creators to build and launch their products on the BNB Chain.
Although the BNB Chain NFT ecosystem has lagged behind the likes of Ethereum, Solana and Polygon, the platform has recently expanded its addressable market with Banace NFT adding support for bitcoin NFTs.
Binance has also integrated Polygon and Ethereum NFTs further committing to becoming a multi-chan NFT ecosystem.
The Layer 1 blockchain also recently expanded its NFT ecosystem, launching a peer-to-pool NFT lending marketplace with loans initially offered in ETH. Last November, Binance also launched its revamped NFT marketplace with support for OpenSea NFTs.
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