Supermojo, a financing platform for non-fungible tokens (NFTs), has raised more than $6 million in a seed funding round to make digital assets more accessible for the next wave of users.
In a July 14 announcement, the financing platform for digital assets confirmed the successful completion of its seed funding round that has secured more than $6 million. Supermojo will use these funds to streamline NFT access. While commenting about the seed funding round, Amir Sarhangi, the Head of Product at Supermojo, explained:
“The NFT market needs to welcome new users to keep scaling. NFT marketplaces and storefronts have yet to offer the payment methods most people are familiar with when buying online. ‘Buy Now, Pay Later’ experiences are critical to excellent checkout experiences.”
The funding initiative saw the participation of BH Digital, DRW Venture Capital, Intersection Growth Partners, and Neuberger Berman. Additional investors include Sfermion, Arca, Gemini, Everyrealm, Arrington Capital, BlockFi Ventures, Circle Ventures, Crossbeam Venture Partners, Draper, FJ Labs, FBG Capital, OP Crypto, Red Beard Ventures, and Ripple.
Launched by CEO Amir Sarhangi and Head of Product and Engineering Craig DeWitt, two former executives at Ripple, Supermojo is a financing platform designed to improve the NFT purchase experience and collateralized lending for improved post-sale liquidity.
Supermojo anticipates using the secured funds to create user-friendly crypto infrastructure, data analytics, and financing solutions. The financing platform for NFTs also aims at partnering with other platforms to serve the current 25billlion NFT market.
Indeed, Supermojo will help marketplaces and storefronts improve their average order size and customer conversion rates. The NFT financing platform also plans to improve infrastructure, lowering the barrier of entry for new users and moving them closer to a future of frictionless digital ownership.
Supermojo is an embedded platform oriented toward helping the growth of NFTs as a powerful new asset class. Supermojo aims increasing financing options for customers and increase the simplicity and liquidity of the NFT ecosystem.
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