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Tabi’s NFT Marketplace Raises $10 Million

Tabi, formerly known as Treasureland, a prominent NFT marketplace on the BNB Chain, has successfully raised an impressive $10 million in an angel funding round. The venture capital firms that participated in the funding round were Animoca Brands, Binance Labs, Draper Dragon, Hashkey Capital, Infinity Crypto Ventures, and Youbi Capital, and notable individual investors such as Bo Feng of Dragonfly Capital, Riyad AD of Saudi Arabia, and Suji Yan of Mask Network also contributed to the funding.

 

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Tabi aims to use the newly acquired funds to focus primarily on the development of its gaming ecosystem and the creation of an on-chain identity protocol. In addition to offering NFT trading and launchpad features, the marketplace introduces a unique concept of converting users’ on-chain activities into “experience points,” which can be exchanged for future airdrop rewards and earnings.

Xavier Lee, the founder of Tabi, revealed the future endeavors of the project, which include the launch of an “NFT incubation fund.” The initiative aims to incentivize developers to bring their products, art, and brand to the BNB chain. Tabi aims to foster innovation within the NFT space by providing support and resources to these creators. The marketplace also expressed gratitude to its early supporters by introducing a “reward plan” on the same day as the funding announcement.

This recent funding round further showcases Binance’s growing involvement in the NFT realm, with the cryptocurrency exchange making headlines on March 2 with its native NFT AI generator, “Bicasso,” which reached its minting cap of 10,000 within just three hours of launch. On March 8, Binance also announced its integration of Polygon (MATIC) support into its NFT marketplace, expanding its capabilities and reach. It is worth noting that Tabi’s ambitions align with the broader industry trend.

Compiled by Coinbold