NFT startup Mintify raises $3.4 million in additional funding

The NFT startup Mintify raised $3.4 million in additional funding.

ARCA, Cumberland, Psalion, Master Ventures, Zeneca, GM Capital, Spencer VC and over 50 angel investors participated in the fundraise, which was not part of a structured round.

Mintify's total funding is now $5 million, and there will be no immediate changes to the firm's board of directors, Mintify Founder and CEO Evan Varsamis told The Block.

Mintify is building infrastructure for an NFT order book for gaming, art and real-world asset markets. The platform already supports Ethereum, Base and Blast with plans to Ordinals and other systems by the end of the year, according to a release shared with The Block.

"As tokenization accelerates and permissionless capital is on par with or exceeds traditional centralized capital, we will see more and more web2 experiences migrate or merge within decentralized technologies," Varsamis said. "We're calling this 'embedded decentralization, and we believe more and more services will be a hybrid of centralized and decentralized architectures. We're excited to sit in the middle of the economic boom that will appear on-chain with partners like Coinbase and Base leading the charge."

NFT trades brought in $96.91 million in volume between July 14 and July 24, according to The Block's Data Dashboard.