NFT development studio Mojito announced Friday that it has successfully raised $20 million from a number of investors. This includes the internationally renowned auction company Sotheby’s.
Delaware startups have stated that they will use the funds to expand and develop their engineering team. as well as creating a better current version of the NFT platform. and continue to develop the NFT trading and investment platform.
The NFT market has seen lower monthly sales since the beginning of September. That figure was $1.8 billion to $2.1 billion last month, according to data from nonfungible.com
Monthly NFT market sales hit an all-time high of $3.7 billion on September 4, after a steady increase in late July and then a decline.
All current $31 million in NFT market sales come from the sale of art assets.
Thus, it has made digital art markets such as OpenSea very successful during this time as well. It reported holding 98% of all market transactions through August 2021, and art dealers and museums took notice. and started following this approach When they found a way to make money appeared in this new market.
Both Sotheby’s and Christie’s auction houses, which have hosted NFT auctions, have had several successful NFT auctions over the past year, and Christie’s is also one of the first two companies to host a global NFT auction.
Mojito previously helped Sotheby’s develop a new digital NFT marketplace known as Metaverse.
Businessman Kevin O’Leary is an anti-cryptocurrency investor. The cryptocurrency trader spoke about his belief that the NFT market is bigger than Bitcoin during an interview on the Pomp podcast.
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