How the $35M Fractal Just Raised Could Rock the NFT Space (Op-Ed)

Although the announcement was made on April 1, it was not a joke. The $35 million USD raised was also a substantial sum. Justin Kan gave a hint about what was to come for Fractal by tweeting: “Yeah. I built Twitch. It has millions of users, & gaming NFTs that are way larger.”

Fractal had just ten days to go before the NFT marketplace was launched on December 30th last year. Kan, a GamesBeat interviewee, stated that the Fractal Discord had amassed some 107,000 followers by the time the site went live.

Multicoin and Paradigm Lead $35M Seed Round

Solana Ventures was joined by Menlo Park-based Andreson Horowitz, Coinbase and Animoca Brands. Position Ventures, Zynga founder Mark Pincus. Crossover, Shrug Capital. TerraForm CEO Do Kwon. Tim Ferriss.

Kan took to Twitter to remind stakeholders from the Fractal/NFT community as well as start-up entrepreneurs that “it’s NOT the size of your seed around it’s what it does with it.” This is a crucial reminder for both crypto-investors as well as startups.

Here’s Kan’s assessment of Fractal’s progress with the new infusion of private capital three months after its launch:

“Crypto never sleeps. We are building stuff fast and very product-driven. It feels like we are redefining the Internet’s value creation. Fractal, if you’re not following along, is a marketplace that allows people to sell and buy gaming NFTs. It’s been a three-month-long process. It’s been quite successful. We have been working with many gaming partners to drop the NFT collections that are no longer in stock, and there is a lot more …”.

Fractal Friday released a press release that further details:

“Fractal is creating a trust layer within the web3 gaming ecosystem. NFT marketplaces remain a wild west, with many companies failing to live up to their promises. We’re working with AAA gaming studios that have large communities to deliver the most exciting game experiences to players.

He believes that blockchain assets will allow for a greater shift in online gaming over the next decade than the Twitch platform. Kan set the lofty goal to onboard 100 million cryptocurrency users through its NFT marketplace that supports blockchain-supported digital games assets.

OpenSea: Will a Solana-powered Fractal make as big a splash in NFTs?

Fractal uses the Solana Blockchain, a third-generation cryptocurrency that utilizes proofof stake (POS), to verify nodes and to secure actions on the network. This allows it to scale well and handle large volumes of transactions in a trustless peer-2-peer (P2P). network. Solana calls its PoS method proof of history (PoH).

Protocol’s Tomio Geron reported that Solana’s super fast blockchain platform requires a killer app in order to break into mainstream. He speculated that Fractal’s NFT market could be that app. Quality is the key to this venture’s success. VentureBeat’s Dean Takahashi reported that Kan stated that Fractal has a low acceptance rate for tokens it markets on its NFT clearinghouse.

Some of the most notable games that are currently listed NFTs on Fractal are House of Sparta, Tiny Colony and Yaku (racing), Cinder and Nekoverse MMO RPG.

Read More

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Close Bitnami banner
Bitnami