Tabi, a BNB NFT Marketplace, Secures $10 Million in Angel Funding

The funding and investors

The funding for Tabi, a BNB NFT marketplace, has reached an impressive milestone with $10 million raised in angel funding. The seed funding comes from renowned venture capital firms including Animoca Brands, Draper Dragon, Hashkey Capital, Infinity Crypto Ventures, and Youbi Capital. Notable individual investors such as Bo Feng of Dragonfly Capital, Riyad AD of Saudi Arabia, and Suji Yan of Mask Network have also contributed to the funding. Binance Labs had previously invested in Tabi back in May 2021.

Tabi’s focus and plans

The primary utilization of the funds will be towards the development of Tabi’s gaming ecosystem and the creation of its upcoming on-chain identity protocol. Tabi offers more than just NFT trading and launchpad features. It allows users to convert their on-chain activities into “experience points,” which can be later exchanged for future airdrop rewards and earnings. Additionally, the platform includes a gaming platform that consolidates blockchain game transactions and entertainment.

Expansion and reward initiatives

Founder Xavier Lee has revealed that Tabi has plans to launch an “NFT incubation fund” that aims to incentivize developers to design their products, arts, and brands on the BNB Chain. This initiative is a way to encourage innovation within the ecosystem. Tabi, which was established in 2021, is also announcing a “reward plan” on the same day as the funding announcement as a gesture of gratitude towards its early supporters.

Binance’s NFT operations

Binance has been actively expanding its operations in the NFT space this year. On March 2, their native NFT AI generator called “Bicasso” reached its minting cap of 10,000 in less than three hours after launch, highlighting the popularity of Binance’s NFT offerings. Additionally, on March 8, Binance announced its integration of Polygon (MATIC) support into its NFT marketplace, further enhancing its capabilities and offerings to users.

Integration with OpenSea

In November of last year, OpenSea, which was the most popular NFT marketplace at the time, announced its plans to integrate BNB Chain into its platform. This integration allows users to directly buy, list, and trade BNB Chain NFTs on OpenSea, further expanding the possibilities and accessibility for users in the NFT ecosystem.