Rarify is working on building scalable NFT APIs
NFT infrastructure company Rarify has raised $10 million in a series of funding from Pantera Capital. She is working on building scalable NFT APIs for the commercial sector.
For Rarify, this support was a huge boost as Pantera Capital is one of the leading crypto venture capital firms. Rarify plans to create an API targeting the NFT space. This will allow companies to integrate it into their platforms for a complete customer experience. The API also allows you to mint and transfer NFTs between different blockchains.
Rarify aims to make it easy to buy and sell NFT tokens
Representatives of the company cited the OpenSea platform as an example, where the purchase process takes place in 14 stages. Rarify is confident that the process can be reduced to three steps while maintaining a level of security.
In addition to funding from Pantera Capital, Rarify has received $2 million from Pareto, Eniac Ventures, Protocol Lab. Rarify plans to use the proceeds to expand its staff and launch new products with its partners.
The company is currently helping various blogs and websites integrate NFT to buy and sell products. Rarify is also working on a data API that can track NFTs across multiple blockchains, verify a user’s avatar, and estimate the value of specific NFT tokens.
The company is unveiling new products amid challenging times for the NFT space. Experts estimate that in the secondary markets, the number of unique NFT buyers has decreased by 12%, and the volume of NFT searches on Google has fallen by about 60-70% since the end of January. Despite this, Rarify is hoping for a quick fix for the market.