Animoca Brands, and Binance Labs, amongst other venture capital firms, have led a $10M angel funding round for Tabi NFT Marketplace, formerly Treasureland.
Animoca Brands, Binance Labs, Draper Dragon, Hashkey Capital, Infinity Crypto Ventures, and Youbi Capital provided the initial funding. Bo Feng of Dragonfly Capital, Riyad AD of Saudi Arabia, and Suji Yan of Mask Network are examples of individual investors.
According to the developers, the funds will primarily be used to build Tabi’s forthcoming on-chain identity protocol and expand its gaming ecosystem.
Tabi converts users’ on-chain activities into “experience points,” which can be exchanged for future airdrop rewards and earnings.
In addition, the protocol includes a gaming platform that aggregates blockchain game transactions and game-related entertainment.
In addition, Tabi’s founder Xavier Lee stated that the project intends to create an “NFT incubation fund” to encourage developers to design their products, artwork, and brand on the BNB Chain.
In 2021, the initiative was established. Tabi claims it will launch a “reward plan” on the same day it announces funding to thank its early backers.
This year, Binance has expanded its NFT-related operations. On March 2, the native NFT AI generator of the cryptocurrency exchange, dubbed “Bicasso,” reached its minting cap of 10,000 less than three hours after its debut. Binance announced the addition of Polygon support to its NFT marketplace on March 8.
OpenSea, the most prominent NFT marketplace at the time, announced in November 2017 that it would integrate BNB Chain into its marketplace. This would enable users to purchase, list, and trade BNB Chain NFTs on OpenSea.