NFT Infrastructure platform raises $14.9M to expand NFT infrastructure and interoperability
LONDON, April 13, 2022 (GLOBE NEWSWIRE) — After the Polkadot blockchain completed its 14th parachain auctions, Unique Network, an NFT infrastructure platform, was declared the winner, having raised the most of any participant in the auction, over 822,000 $DOT. Unique Network conducted a crowdloan fundraising program that saw over 5150 network stakeholders contribute 822,942 DOT tokens over the course of the 7 day parachain auction. This milestone highlights the community-driven approach that Unique Network has undertaken as it scales to bring its vision of a fully interoperable NFT ecosystem that drives the next stage of NFT adoption.
“The team at Unique Network has been working towards this milestone for over a year, so it’s a really fulfilling moment for us to see how supportive and large our community has grown in that time, and the level of trust they have in us to deliver our vision of the next generation of NFTs.” said Alexander Mitrovich, co-founder & CEO of Unique Network.
Polkadot is known in the crypto developer community as a light, scalable, and energy-efficient blockchain, which is why the parachain auctions have drawn hundreds of millions in cryptocurrency investment. Unique Network was able to crowdsource the capital required to fund a lease for the network to operate on Polkadot for 96 weeks. Deploying as a parachain on Polkadot enables projects the access to their full interoperability, scalability, and security of the Polkadot Network. For Unique Network, the mission is to enable composable and advanced features for NFTs and the blockchain industry.
“We are thrilled to work with Unique Network and their crowdloan at Parallel. With more than 33% of Unique’s crowdloan contributed via Parallel’s crowdloan platform it’s clear that there is demand for NFTs and DeFi from the community. We are looking forward to working with Unique Network more in the future,” said Michael Seitz, Director of Marketing at Parallel Finance.
After securing the parachain from Polkadot, Unique Network intends to launch their governance and utility token, UNQ. The native token will power the platform through payment transactions for NFTs transactions and smart contract transactions, and facilitate staking mechanisms like voting and reputation management.
This achievement for Polkadot’s first native NFT platform will enable creatives and developers to begin unlocking the next wave of NFT innovation, including re-fungibility, nested NFTs, and dynamic-multiversal NFTs.
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About Unique Network
Unique Network is an infrastructure for the next generation of NFTs. The first NFT chain for Kusama and Polkadot, Unique Network offers developers independence from high network transaction fees, dense upgrades, and siloed NFTs. The Unique Network team has partnered with numerous NFT projects in order to deepen the integrations needed to expand NFT use cases and usability, like Art Curator Grid, XP Network, UN-Habitat, and SupraOracles. Unique Network was responsible for Polkadot’s first NFTs, Substrapunks.
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