Tabi, a dynamic NFT marketplace, has successfully secured a $10M investment from a variety of venture capitalists, including Animoca Brands and individual angel investors, with plans to strengthen its BNB Chain-based gaming ecosystem.
In this investment round, prominent names such as Animoca Brands, Binance Labs, Draper Dragon, Hashkey Capital, Infinity Crypto Ventures, and Youbi Capital stepped in as backers. Prominent individuals like Bo Feng from Dragonfly Capital, Riyad AD from Saudi Arabia, and Suji Yan from Mask Network also joined the fundraising efforts.
How will Tabi use the funds raised?
Tabi will allocate this substantial investment towards the development of a gaming ecosystem on the Layer1 blockchain, with an aim to enrich its current platform offerings. Part of the funds will be used for the development of Tabi’s forthcoming on-chain identity protocol, an innovative feature set to further distinguish the platform.
The Tabi ecosystem features an NFT trading platform alongside a toolkit designed to assist developers in launching their projects swiftly. Unique to this platform, user activity is converted into experience points, which can be later redeemed for future airdrops and benefits.
Founder of Tabi, Xavier Lee, expressed the company’s aspiration to augment its ecosystem with an “NFT Incubation Fund”. This fund is aimed at incentivizing developers and creators to build and introduce their products on the BNB Chain.
The BNB Chain’s NFT ecosystem has not kept pace with Ethereum, Solana, and Polygon. Nevertheless, the platform has recently expanded its reach, with Binance NFT now supporting Bitcoin NFTs. The integration of Polygon and Ethereum NFTs by Binance has also reinforced their commitment to being a multi-chain NFT ecosystem.