Fractal, a Solana NFT Marketplace launched in December by Twitch Founder, raises $35M in funding.
On April 1, 2022, the Solana-based NFT marketplace raised $35M. Industry-leading companies Multicoin Capital and Paradigm were also on the list of investors.
Fractal is an NFT marketplace where players can directly buy Solana-based non-fungible tokens. Twitch co-founder Justin Kan launched this company in December 2021.
Since its launch, it has sold out every game and NFT that’s been minted via the Fractal launchpad.
As Justin Kan was a co-founder of Twitch, he believes that NFTs are on their way to becoming utilized. According to Kan, NFTs will move the gaming industry to a whole new level.
How Fractal could Change the Gaming Industry
With the Fractal NFT marketplace, the players can buy the in-game assets as NFTs and sell them outside of the game.
In 2022, P2E (play-to-earn) NFT games are getting more popular. As Fractal raised $35M in funding, other P2E gaming projects follow this route.
In-game items such as expensive skins in Fortnite are just one-time buys; you can’t sell them. You can buy them in the game, but they aren’t of much use and can’t be traded once bought.
With the Fractal NFT marketplace, the gaming industry will shift as the in-game items could be traded outside the game as well. On top of that, these in-game items would be bought as NFTs, making you the actual “owner”, unlike in traditional games.
OpenSea to Support Solana NFTs.
Fractal might have raised a lot of money, but OpenSea, the world most popular NFT Marketplace intends to support Solana-based NFTs which could drive the Solana ecosystem users there.
One thing for sure is that some Solana NFTs are going to be very popular with an increased trading volume.
Conclusion
Justin Kan, the founder of Fractal NFT Marketplace, plans to leave Twitch and shift all of his focus and dedication to growing his newly founded NFT marketplace. Additionally, Fractal intends to keep supporting upcoming decentralized gaming projects.
The opinion about making crypto mainstream in play-to-earn games is divided. While some are concerned about the environmental impact of blockchain technology, some favor making crypto mainstream in play-to-earn games.
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