Galaxis Secures $10 Million Funding Round

Galaxis, an NFT utility platform, recently secured $10 million in funding with notable participation from Chainlink, Taisu Ventures, and other investors.

With the participation of Chainlink, Taisu Ventures, Rarestone Capital, and Ethereum Name Services (ENS) co-founder Nick Johnson, Galaxis, an NFT utility platform that assists brands and creators in launching blockchain-based collectibles, has successfully closed a $10 million fundraising round.

According to Galaxis, the financing also includes gains from the sale of over 11,000 “Galaxis Engines” nodes.

Bybit is planning to launch its coin this month, and the fundraising is happening in anticipation of that. With these monies, they will be able to broaden the application of NFTs beyond the realm of digital art. To further encourage participation on the site, the business has also introduced a Community Creator and Member Grant Program with a budget of $1 million. The platform’s customizable membership cards, which provide access to experiences and incentives, are a major feature.

CoinMarketCap supports Galaxis, an initiative that eliminates intermediaries by enabling brands and creators to create digital collectibles and incentive structures on the blockchain. Grantees from the initiative will distribute half a million dollars to artists and community members over the course of the following twelve months.

Mike Tyson, LaMelo Ball of the Charlotte Hornets, actor Val Kilmer, DJ Steve Aoki, and the platform have all collaborated in the past.

In response to the announcement, Andras Kristof, CEO and co-founder of Galaxis, stated that the platform’s native GALAXIS coin will power the ecosystem.

Kristof claimed that the buzz surrounding the first Bitcoin ATM installation in Singapore has died down. NFT utility platform developers are firm in their belief that NFT technology will really help propel widespread adoption of Web3 across all sectors, not just as a passing fad.