Business News Report
May 30, 2023

BNB Chain NFT Marketplace Tabi Raises $10M in Angel Funding Round Led by Animoca Brands

In Brief

Tabi is an NFT marketplace focused on the Binance Smart Chain (BSC).

It rebranded from Treasureland this month.

The freshly raised funds will be used to build the Tabi Launchpad, game-play ecosystem, and on-chain identity protocols.

BNB Chain NFT Marketplace Tabi Raises $10M in Angel Funding Round Led by Animoca Brands

Tabi, an NFT marketplace focused on the BNB Chain, has raised $10 million in an angel round led by Animoca Brands. The round was joined by Binance Labs, Draper Dragon, Hashkey Capital, Infinity Crypto Ventures, Youbi Capital, and angel investors Fengbo (Dragonfly Capital), Riyad AD (Saudi Arabia), and Suji Yan (Mask Network).

According to a blog post announcing the funding, the freshly raised capital will be used to build the Tabi Launchpad, game-play ecosystem, and on-chain identity protocols.

The NFT marketplace rebranded from Treasureland to Tabi this month. Explaining its decision to focus on Binance’s layer-1 blockchain, Tabi said that BNB Chain offers “premium transaction speeds, cost-efficient fees, a robust DeFi infrastructure, and compatibility with the Ethereum Virtual Machine (EVM),” which makes it easy for web3 apps to reach web2 users. 

It also cites BNB Chain’s “large and expanding user base, vibrant community, and strong ecosystem of projects” as other factors that can onboard web2 users to web3.

Tabi is gearing up for its upcoming beta release, comprising a marketplace, a launchpad, and an on-chain identity protocol. The marketplace will allow users to buy or sell NFTs at specific prices and times, while the launchpad will enable creators and builders to develop and release NFTs. 

In addition to the marketplace and launchpad, Tabi will also offer NFT collectors and traders a unique on-chain identity protocol that will be able to turn users’ on-chain behavior into experience points that can be redeemed for future rewards and benefits.

According to Tabi founder Xavier Lee, other plans for Tabi include a gaming ecosystem and an NFT incubation fund to encourage more creators and builders to launch on the Binance Smart Chain.

Even though BNB Chain is only the seventh largest blockchain by NFT sales volume over the last 24 hours, according to CryptoSlam, Binance has been making efforts to beef up its NFT ecosystem.

Binance’s NFT marketplace has added support for Ethereum and Polygon and recently integrated Bitcoin Ordinals. Last week, Binance unveiled its NFT lending program for Ethereum NFTs.

Read more:

Tags:

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

More articles
Cindy Tan
Cindy Tan

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

Hot Stories
Join Our Newsletter.
Latest News

From Ripple to The Big Green DAO: How Cryptocurrency Projects Contribute to Charity

Let's explore initiatives harnessing the potential of digital currencies for charitable causes.

Know More

AlphaFold 3, Med-Gemini, and others: The Way AI Transforms Healthcare in 2024

AI manifests in various ways in healthcare, from uncovering new genetic correlations to empowering robotic surgical systems ...

Know More
Join Our Innovative Tech Community
Read More
Read more
Alchemy Pay Teams Up With BounceBit To Support Bitcoin Restaking Ecosystem
Business News Report Technology
Alchemy Pay Teams Up With BounceBit To Support Bitcoin Restaking Ecosystem
May 17, 2024
Magic Square Unveils IDO Platform Magic Launchpad To Democratize Retail Access For Web3 Investors
Business Markets News Report
Magic Square Unveils IDO Platform Magic Launchpad To Democratize Retail Access For Web3 Investors
May 17, 2024
Binance Partners with Taiwanese Authorities to Unveil Massive $6 Million Crypto Money Laundering
Opinion Business Markets Software Technology
Binance Partners with Taiwanese Authorities to Unveil Massive $6 Million Crypto Money Laundering
May 17, 2024
How to Understand the Value of Crypto Tokens?
Crypto Wiki Opinion Business Education Software Technology
How to Understand the Value of Crypto Tokens?
May 17, 2024