EXCLUSIVE: Algorand NFT marketplace Rand Gallery buys data aggregator NFT Explorer
The Algorand NFT marketplace Rand Gallery bought NFT Explorer, a data aggregator, to control “the complete vertical NFT stack.”Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Rand Gallery, the largest NFT marketplace on the Algorand blockchain, acquired the data aggregator NFT Explorer to add analytics to its product offering.
The deal allows Rand Gallery to own"the complete vertical NFT stack" as it aims to become"a central hub for all NFTs — including music and gaming — and a trusted web3 partner for brands wanting to offer a data-driven NFT experience to their audience," according to a release.by a startup called Distributed Finance, which emerged from stealth with $2.5 million in seed funding and announced the takeover in August.
Rand declined to disclose terms of the NFT Explorer acquisition, while noting that the amount paid was less than last year's deal. It added that the company is closing a top-up to its seed round to finance the takeover.
Investors in Distributed Finance include Borderless Capital, the Algorand Foundation, Eterna Capital, Big Brain Holdings and Fun Fair Ventures.
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