New NFT Marketplace, myNFT, Seals $7m in Funding to Make NFTs Accessible to All

PRESS RELEASE. New London-based NFT market platform, myNFT, has introduced its upcoming launch with the information that it has obtained Series A funding from a few of the most outstanding traders within the blockchain trade.

myNFT believes that the present NFT trade is stuffed with obstacles, blocking this revolutionary expertise from being accessible to everybody. Their core mission is to vary this in ways in which no different platform has finished earlier than – reducing prices, and supporting multi-chain cost strategies, together with fiat and plenty of extra options.

The platform is constructed on the Moonbeam parachain which is part of the Polkadot Network. Polkadot was based by Ethereum co-founder Gavin Wood and is called ‘the web of blockchains’ because it connects blockchains collectively, permitting worth and information to be despatched throughout beforehand incompatible networks. Thanks to the natively interoperable and multi-chain structure of Polkadot, myNFT clients will ultimately have the ability to create, commerce and migrate NFTs between any blockchain in any foreign money and at a low value.

A gamechanger for the NFT trade, myNFT are launching with a viable fiat onramp, the place customers can purchase and promote NFTs with Pounds (£), Dollars ($) and different non-cryptocurrencies. This is in keeping with myNFT’s total mission of creating this revolutionary expertise accessible to all.

Currently one of many fundamental bottlenecks stopping mainstream adoption of NFT expertise is the excessive gasoline charges related to the Ethereum community. Ethereum gasoline prices have skyrocketed, excluding many new potential patrons from the market. myNFT’s tech stack is proof of stake primarily based – far more scalable and simply as safe as Ethereum. Thus patrons and sellers may have a lot decrease gasoline prices and quicker transaction speeds which implies higher worth and liquidity for the NFTs created.

People can public sale their NFTs on the myNFT platform utilizing their new, patent-pending bid-to-earn GBM auction system. In a GBM public sale, there are solely two outcomes, the bidder both makes cash when they’re outbid or they win the merchandise within the public sale! This is a completely novel method for individuals to find the worth of their NFTs and makes auctions much more enjoyable for everybody concerned.

When creating the myNFT platform, the expertise of its co-founders performed an enormous position. Three college buddies, Hugo McDonaugh, Edouard Bessire, and Guillaume Gonnaud, have been working within the NFT area for the reason that very early days of the trade. Previously, they efficiently launched the Cryptograph platform in 2020, which enabled Hollywood celebrities and artists to create their very own NFTs and provides a portion of the proceeds to a charity of their alternative. During this time the co-founders encountered many points affecting the trade reminiscent of extreme gasoline worth inflation, clunky consumer experiences, poor cryptocurrency exchanges, and extra. The staff has sought to make use of these experiences as a way to create a greater platform within the type of myNFT.

The profitable completion of their Series A funding spherical, with over $7M raised, paves the way in which for making a extra accessible NFT trade. In this regard, Hugo McDonaugh, co-founder and CEO of myNFT, states:

Securing Series A funding is such an important step for a fast-developing start-up like ours, and we’re delighted to obtain the assist from a few of the smartest individuals in web3, and past. It offers us the liberty to concentrate on rising myNFT and delivering transformative options to the NFT trade to ship on our core mission to make NFTs accessible to all. Thanks to blockchain expertise and NFTs, we’re witnessing the beginnings of a brand new web: an web primarily based on worth, possession, and freedom. With this vote of confidence, myNFT will guarantee nobody will get deserted from accessing this actually revolutionary expertise.

The Series A was led by Scytale Ventures, a number one investor within the blockchain trade. Other traders embody SevenX Ventures, Future Perfect Ventures, Signum Growth Investments, Bruno Skvorc (Founder of RMRK), George McDonaugh (Co-founder of KR1) and a wide range of different household places of work and angel traders. The staff has additionally obtained a grant from the Moonbeam Foundation for his or her work on vital NFT infrastructure for Web3.

myNFT is because of launch their first model in June 2022.

The subsequent stage of their roadmap after launch is to launch their subsequent era NFT minting infrastructure alongside some thrilling new developments that the NFT trade has but to see.

You can already register at www.mynft.com to be one of many first to make use of the myNFT market when it launches and in addition enter the launch competitors for an opportunity to win some improbable NFT prizes.

To discover out extra about myNFT or to talk to CEO, Hugo McDonaugh or Head of Growth, Sina Sadrzadeh, please contact both Lydia Drukarz (+447977 454180) or Will Jones (+447505 827569) at Wavelength PR or e mail: lydia@wavelengthpr.com or willwavelengthpr@gmail.com

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