**Summary: Investors back NFT upstarts as established players struggle**
Investors are showing interest in emerging NFT (non-fungible token) companies as the digital collectible market gains momentum and established players face challenges. Japanese messaging app LINE’s Web3 arm secured $140 million in funding, with plans to integrate a mobile-enabled NFT platform called DOSI with LINE’s existing NFT marketplace. Metagood, another NFT marketplace, raised $5 million in seed funding for its Osura platform, which focuses on high-end ordinal inscriptions. NFT perpetual futures exchange nftperp also received a $3 million Series A led by 1kx, allowing investors to take long or short positions on popular NFT collections. These investments come after Tiger Global reportedly reduced its stakes in NFT giants Board Ape Yacht Club and OpenSea.
In a separate development, bitcoin cashback rewards service Lolli raised $8 million in a Series B led by BITKRAFT Ventures. Lolli allows users to earn bitcoin-denominated cashback rewards on purchases at major retailers. The funding will be used to expand Lolli’s card linking program and establish partnerships with various financial and payment companies. Notable fundraises also include a $13.5 million Series A round for Web3 authentication platform Dynamic, a $30 million Series B for UK-based digital asset derivatives trading firm GFO-X, a $48 million raise for digital asset risk management Andalusia Labs, and a $25 million sale of preferred shares for mining rig producer Canaan Creative.
**Key Points:**
1. Investors are funding emerging NFT companies as established players face challenges.
– This indicates the growing interest and potential in the digital collectible market.
– It could lead to increased competition and innovation in the NFT space.
2. Japanese messaging app LINE’s Web3 arm raised $140 million for integrating a mobile-enabled NFT platform with its existing marketplace.
– This shows the company’s commitment to expanding its NFT offerings and capitalizing on the market’s potential.
– It could attract more users to LINE’s NFT marketplace and drive adoption of NFTs in Japan.
3. Metagood received $5 million in seed funding for its high-end ordinal inscriptions marketplace.
– The funding will help Metagood compete in the Bitcoin ordinals trading market.
– It highlights the demand for unique and premium NFT collections.
4. NFT perpetual futures exchange nftperp secured $3 million in a Series A round led by 1kx.
– This allows investors to speculate on the floor prices of popular NFT collections.
– It provides new investment opportunities in the NFT market and adds liquidity to the ecosystem.
5. Lolli, a bitcoin cashback rewards service, raised $8 million in funding to expand its offerings.
– The funding will support the growth of the card linking program and partnerships with financial companies.
– It demonstrates the increasing popularity of crypto-based rewards and the potential of bitcoin as a mainstream currency.
6. Other notable fundraises include Dynamic, GFO-X, Andalusia Labs, and Canaan Creative.
– These investments indicate the broader interest and investment activity in the crypto and digital asset space.
– They reflect the growing importance of Web3 technologies, derivatives trading, risk management, and mining in the industry.