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On Friday, Fractal announced a $35 million seed fundraise. Fractal is owned by Twitch’s co-founder Justin Kran. It is an NFT marketplace for video gaming that was launched last December. Paradigm and Multicoin led the funding round.
Last month, Justin Kan hinted about something upcoming when he tweeted “Yeah, I built Twitch, it has millions of users & gaming NFTs are way bigger.”
According to Kan in an interview with GamesBeat, Fractal announced the launch ten days before launching the NFT marketplace on Dec 30. By the time it went live, the Fractal Discord already acquired 107,000 followers.
Coinbase Animoca Brands Takes Part In $35M Seed Round
Solana Ventures, Animoca Brands, Play Ventures, Position Ventures, California-based Andreeson Horowitz, Coinbase, Shrug Capital, Tim Ferriss, Zynga founder Mark Pincus, TerraForm CEO Do Kwon, along with Menlo Park, and many others participated in the round.
However, through a Tweet Kan as a reminder for stakeholders in the Fractal and NFT community that the size of the seed round does not matter but how you use it.
In a press release published on Friday, Fractal specify the following:
Fractal is working on creating a trust layer in the web3 gaming space. While NFTs continue to remain the “wild west right now,” as many players are failing to fulfill their promises. “We are working with the best AAA gaming studios with large communities to bring the coolest game experiences to players.”
Meanwhile, Kan has also set a goal of onboarding around 100 million cryptocurrency users by powering the NFT marketplace for digital gaming assets supported by blockchain.
Does Fractal Hold The Potential To Become Successful Like OpenSea?
Fractal is automated by the Solana blockchain, which uses proof of stake to validate and provide security to the network. Solana has named Fractal’s proprietary PoS method as proof of history (PoH).
On Friday, Tomio Geron from Solana said that the super-fast blockchain platform of Solana in order to enter into the mainstream needs a “killer app”, NFT marketplace by Fractal is being speculated to be that app. Quality will be the main factor to make this endeavor successful.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
