Massive amounts of money have continued to flow into the NFT industry. 0X Labs, an NFT platform partnering with Coinbase, just earned a whopping $70 million in Series B financing. According to Forbes, Greylock Partners managed the investment, and the value is still unknown.
However, the fundraising round included investments from some of the market’s largest NFT firms. Among the noteworthy investors were OpenSea, Jared Leto, Pantera, Jump Capital, and Coinbase.
Ox has already secured $39 million in Series Funding once via a coin sale in 2017, and once through a Series A equity fundraising round. The business raised $24 million in the first round and $15 million in the second.
Ox is a decentralised open-source exchange platform that facilitates peer-to-peer asset trading on the Ethereum Blockchain. The native token 0x is at the heart of the Ox protocol (ZRX).
Ox just announced a partnership with Coinbase to support its social NFT marketplace. As a result of the agreement, Coinbase will be able to access NFTs by purchasing and selling them at a reduced transaction cost for its customers.
Following the collaboration, the price of ox (ZRX) token increased by 47%. The asset’s trading volume increased by 3,000%, reaching its highest level since February 2021.
Since last year, NFT series financing has been increasing. A considerable number of NFT platforms will have received millions of dollars in investment by 2022. The advancement may be attributed to the increased worldwide usage of NFTs.
Metaversal, an NFT-based holding company, received $50 million in Series A funding in January.
Sfermion, an NFT investment business, also secured a whopping $100 million in capital. More NFT platforms are anticipated to get further financing in the near future.
