Sound Ventures is the venture fund founded by Guy Oseary and Hollywood actor Ashton Kutcher while Time Ventures is the investment fund of Marc Benioff and Singaporean corporate leader Koh Boon Hwee’s CRC Capital.
The startup, launched in December 2018 by founder Zach Burks, provides a next-generator NFT platform where users can create, buy, and sell digital items for the easiest way to earn and get started with cryptos and non-fungible tokens.
The close of the seed round comes weeks after venture capitalist and television personality Mark Cuban announced a significant investment in Mintable to help scale the app, which has sold and auctioned works by prominent global artists, musicians, and entrepreneurs.
NFTs are assets in the digital world that can be bought and sold like any other piece of property but have no tangible form of their own. An NFT by the artist Beeple sold at Christie’s for over $60 million in March, making it the most expensive NFT ever sold at auction.
“The interest in NFTs has been surging in recent months even though they have been around for a while. The reason they had never really taken off is because of the upfront cost or fee of minting an asset – which are known as gas fees,” said Burks, adding that Mintable offers zero fees to create NFTs.
SOUTHEAST ASIA DEAL MONITOR
DealStreetAsia has also put together a table listing out prominent venture capital transactions in Southeast Asia from the second half of December till the week beginning April 5.
|Startups||Headquarter||Investment Size||Investment Stage||Lead Investor(s)||Other Investor(s)||Industry|
|Mintable||Singapore||Seed||Sound Ventures, Time Ventures||Blockchain|
|Friz||Singapore||Seed||500 Durians, 500 TukTuks||Iterative VC, Y Combinator||Fintech|
|Glints||Singapore||$22,500,000||Series C||PERSOL Holdings||Monk’s Hill Ventures, Fresco Capital, Mindworks Ventures and Wavemaker Partners||HRtech|
|Flash Coffee||Singapore||$15,000,000||Series A||White Star Capital||DX Ventures, Global Founders Capital, and Conny & Co||F&B|
|Trax||Singapore||$640,000,000||Series E||SoftBank Vision Fund 2, BlackRock funds||OMERS, Sony Innovation Fund by IGV, Warburg Pincus||Retailtech|
|Coin98 Finance||Vietnam||$4,000,000||Alameda Research||Finch / Crypto|