As per the official announcement made by the BNB Chain-based platform, Tabi, which is a non-fungible token marketplace, has successfully managed to obtain for itself the amount of $10 million through an angel funding round. The entity will be utilizing this towards the development of its gaming ecosystem, as well as building on its imminent on-chain identity protocol. Incidentally, Tabi was originally known as Treasureland.
As per the information received, the funding was carried out by a list of venture capital companies, such as Animoca Brands, as well as Draper Dragon, Hashkey Capital, Binance Labs, Infinity Crypto Ventures, and Youbi Capital. There were also some individual investors who too made their contributions, names like Bo Feng of Dragonfly Capital, along with Riyad AD of Saudi Arabia and Suji Yan of Mask Network.
Besides indulging in the trading of NFTs playing the role of a launchpad, Tabi is actively engaged in transforming the on-chain functions of users into points of experience. These, in turn, can be traded in for airdrop rewards, as well as earnings.
According to the Founder of Tabi, Xavier Lee, over and above all of that, in the imminent future, the aim and intention lie in the deliverance of an NFT incubation fund. This will be playing the role of incentivizing developers to carry out their creatives in relation to their products, as well as arts and branding on the BNB Chain. The entity will also be setting in place a reward plan for the single purpose of rewarding all of the initial backers.
In the meantime, Binance has taken the initiative to further its NFT-oriented activities. It was on the 2nd of March, 2023, when its conventional NFT AI generator, which is otherwise known as Bicasso, reached its minting height of 10,000 immediately after its release. It also has plans to incorporate Polygon backing inside of its NFT marketplace.