NFT Site Rarible to Launch Marketplace on Flow Blockchain Following $14.2M Funding Round

Non-fungible token (NFT) marketplace Rarible has raised fresh capital to hire new employees and launch an additional marketplace on the Flow blockchain, home to Dapper Labs’ smash hit, NBA Top Shot.

Venture capital firm Venrock, which was started in 1969 by Laurance Rockefeller, grandson of industrialist John D. Rockefeller, and blockchain venture firm CoinFund led the $14.2 million Series A round of funding, the firm said Wednesday. Venture firm 01 Advisors also participated in the funding round.

“Rarible is determined to pioneer the next wave,” CEO Alexei Falin said.

Ethereum-based Rarible said its platform has clocked over $150 million in digital collectible sales, capturing most of that during the beginning of this year’s NFT fervor.

In February, Rarible raised $1.8 million from early-stage fund 1kx to expand its decentralized market venue to include a new governance structure.