NFT platform Holaplex recently announced a $6 million seed round, with blockchain-focused investment firm, CoinFund leading the charge. The all-in-one NFT marketplace provides free tools for creators to make and sell NFTs. That is to say, it allows artists to mint NFTs, and to make their very own NFT stores. What’s more, artists do not have to know how to code in order to do so.
Holaplex Is an All-In-One Solution For Solana NFT Creators
The platform started operating earlier this year. Chiefly, it aims to give creators an easy way to sell NFTs. In addition it allows buyers to discover up-and-coming artists and projects. To that end, it organizes creators’ NFTs into stores. Buyers can find these stores from the main Holaplex website. Then, after connecting their wallet to the store, they can place bids on NFTs they want to buy.
Users will need a Phantom wallet for Solana to buy or sell NFTs on the platform. Creators need a minimum of 0.25 SOL to set up a store and about 0.007 SOL to mint a basic image on the site.
CoinFund Believes Holaplex Can Provide Vital Tools For NFT Infrastructure
Holaplex already has plans for how it intends to grow with the recent round of funding. First and foremost, it will continue to develop the team working on its technology. It also has new products lined up, like new store templates, and a no-coding-required tool for creating generative NFT collections.
Holaplex uses the Metaplex protocol on Solana. This is what enables creators to launch no-code stores on the platform. Of course, this is central to what Holaplex does. Indeed, founder Alex Kehaya stresses the importance of the “click-and-publish experience” for Holaplex’s users in the press release for the announcement.
Evidently, it is that exact focus that attracted CoinFund. In the same release, CoinFund CEO and founder Jake Brukhman expresses that “tools for marketing and creating NFTs” are what the NFT space is currently lacking. Accordingly, he adds that Holaplex is well equipped to bring these tools to mainstream users.
CoinFund Sees Coming Growth in NFT Gaming and DAOs
All things considered, the investment is great news for Holaplex. Not least because of CoinFund’s involvement. Without a doubt, CoinFund is a huge player when it comes to investing in Web3 companies. NFT Evening reached out to CoinFund for comment on the investment news.
Austin Barack, a principal of venture and liquid investments at CoinFund, spoke on the company’s belief in the NFT platform. “Holaplex is building the best framework for creators and brands to build on Solana and the Metaplex protocol by offering a simple no code solution to launch storefronts and marketplaces,” he said. “This positions Holaplex as the go to solution for creators and brands of all sizes.”
CEO Jake Brukhman told NFT Evening about some subsectors in the industry that CoinFund will be watching closely in the near future. Specifically, he mentioned NFT gaming and Decentralized Autonomous Organizations, commonly known as DAOs.
“In the NFT world, the next subsectors are about gaming. We’re seeing a lot of entrepreneurs going into gaming products with digital asset or NFT strategies and that market is hot and being actively funded”, Brukhman said.
Concerning DAOs, he sees them playing a large part in the growth of Web3. He added, “We are seeing growth in the DAO TVL [Total Value Locked] year over year to the tune of 20x, and a lot of use cases around public crowdfunding and ownership of iconic goods, like the ConstitutionDAO project. Web3 is maturing and rapidly coming to market, partially in support of DAO demand and tooling.”