The huge hype around NFTs may have cooled down a bit since the rise of the cryptocurrency sub-sector last year, but that hasn’t stopped startups from raising money and building in the space. .
MinteoIt is an NFT marketplace based in Latin America.
Investors in this round include Fabric Ventures, Dune Ventures, CMT Digital, Impatient VC, Susquehanna Private Equity Investments, SevenX Ventures, FJ Labs, Big Brain Holdings, G20 Ventures, Alliance DAOZero Knowledge, and a few angel investors.
Interestingly, OpenSea Ventures also participated in this round, but their NFT marketplace is the largest in the space and technically competes with Minteo.
“upon high seas Lots of categories, hard to navigate, and if you’re a creator, hard to reach your audience unless you belong to a top collection. and infrastructure Make local content easily accessible on mobile. ”
While Other NFT Marketplaces Both in Latin America and around the world, Minteo plans to differentiate itself through its infrastructure, with a particular focus on working with local artists and brands, Minteo CEO Santiago Rodríguez told TechCrunch. Told. “So all of this ends up being a very different product.”
“The idea is to work with the top artists in the region, the top 40-50 artists in each country,” Duran said. It has potential and we want to help artists enter NFT.”
Rodriguez said Minteo is aiming to release a beta version next month. The platform is expected to be fully open to the public by early 2023.
Rodriguez said the capital will be used to build the platform and bring in artists from Colombia and Mexico before expanding to other Latin American countries.
Rodriguez said the platform will also have mobile wallets and fiat entry through a “three-in-one product” in addition to the NFT marketplace. “Nobody needs to know anything technical. About 70% of commerce in Latin America is mobile, so we keep it simple and build on mobile. People aren’t really using desktops. .”
That said, Rodriguez said there is already a lot of interest in NFTs in Latin America.
“In Latin America, we are all fun, great dancers, love music and art. At that time, it was the cultural community that took off so far with NFT, and there are great cultural opportunities in Latin America. I realized that,” Rodriguez said. “But right now, cryptocurrencies are hard to come by in the first place…many exchanges are not working well and only very technical people are using it. restricted.”
In the long term, Minteo wants to make buying and selling NFTs “as simple as possible, like one-click shopping.”
“There are so many things ahead,” Rodriguez said. A whole new technology that can transform access to everything. Our vision is to continue building new use cases and extract real value from NFTs. ”