- Burnt Finance recently announced it raised $8 million in funding. These are the details.
Burnt Finance — a crypto startup that provides a user-friendly interface for facilitating every auction type in a decentralized environment — recently announced that it raised $8 million in funding, according to TechCrunch.
This funding round was led by Animoca Brands, a company that publishes a portfolio of blockchain games and traditional games. Multicoin Capital, Alameda Research, DeFiance, Valor Capital Group, Figment, Spartan Capital, Tribe Capital, Play Ventures, HashKey, Mechanism Capital, DeFi Alliance, Terra, and several others also joined the round.
Going forward, Burnt Finance is going to launch its own NFT marketplace — which will feature English, Dutch, and Buy Now auctions. Plus the company is planning to expand to more blockchains including Terra and other EVM compatible layer one protocols.
KEY QUOTE:
“Minting and trading assets in a permissionless ecosystem is crucially important to the economic groundwork of the open metaverse.”
— Yat Siu, the executive chairman and co-founder of Animoca Brands
