Place/Date: Singapore - November 2nd, 2021 at 4:45 pm UTC · 2 min read
Contact: Atharva Sabnis, Source: ITSMYNE
NFT Labs is proud to announce the completion of a private round valued at $1,062,600 for it’s ITSMYNE marketplace. Furthermore, the team will organize an Initial DEX Offering (IDO) through the CardStarter platform. That IDO will help achieve a fair distribution of the project’s native token.
NFT Labs and its ITSMYNE social-plus marketplace for officially licensed sports NFTs continue to attract attention from investors and non-fungible token enthusiasts worldwide. The team has completed a private funding round valued at over $1 million. Participants in this investment round include Shima Capital, AU21 Capital, OraclesInvestment Group, Kangaroo Capital, BlockStart Ventures, CyberFi, etc.
The private funding round comes on the heels of other successful investment rounds for NFT Labs and ITSMYNE. A $207,000 seed, $200,000 strategic, and $500,400 public round brings the total sum of money raised to $1.97 million. The main draw of ITSMYNE is how it is designed for NFT enthusiasts to “talk and trade NFTs.”
The NFT Labs team comments on the fundraising:
“We believe the collective forward momentum of the entire NFT industry can be accelerated by tapping into the value held by premium IPs, especially in cinema and sports. These are industries with highly engaged but yet-untapped audiences and consequently lack the collective ecosystem that a motivated community can bring.”
Through the ITSMYNE platform, users can start collecting NFTs immediately. All non-fungible tokens are officially licensed and are part of a curated collection directly from the source. Furthermore, the NFT minting process for ITSMYNE consumes less energy than NFT minting on the Ethereum blockchain. It is a green initiative focused on providing a sustainable blockchain future for all participants.
To bring the MYNE BEP-20 token to more users, there will be an Initial DEX offering (IDO) on the CardStarter platform. Users will be able to acquire MYNE tokens to access the ITSMYNE platform and its partner products. Accelerator partners of ITSMYNE include Antler Singapore, LonghashX Filefcoin Frontier Accelerator, and HYPE Sports Innovation.
CardStarter CEO Aatash Amir comments on the upcoming MYNE IDO:
“Cardstarter is proud to bring a promising project to the social token economy. ITMYNE serves a valuable niche that will eventually serve as the gateway between traditional social media and blockchain-based social economies.”
ITSMYNE by NFT Labs, Inc., is a social-plus marketplace for officially licensed sports NFTs to enable NFT enthusiasts to “Talk NFTs, Trade NFTs”. MYNE is a native BEP-20 token for ITSMYNE and its partner products.