Non Fungible token (NFT) infrastructure startup Rarify has reportedly secured $10 million in financial support via a Series A fundraising from Pantera Capital at a valuation of $100 million.

Specifically, the fact that Pantera Capital throwing its weight behind the project is major, considering the entity is reportedly among the most high-profile venture capital companies in the crypto sphere.

One of Rarify’s main services is reportedly an NFT commerce-focused application programming interface (APIs), which makes it possible for companies to roll out and integrate user-friendly marketplaces in their platforms. 

The API further makes it possible for minting and porting NFTs between different blockchains.

Rarify cofounder Revas Tsivtsivadze additionally revealed that the firm has plans down its pipeline to bring about simplification to the process of NFT purchasing and selling, the same way “Square made it super easy to accept payments.”

Tsivtsivadze also emphasized that the check-out process of different marketplaces like OpenSea, which he believed employs something “like a 14-step process”, could be reduced to a maximum of three steps. 

The most recent fundraising additionally included a $2 million seed round from late 2021, which saw entities such as Pareto, Eniac Ventures, and Protocol Labs taking part in. 

The company has plans of dedicating the freshly acquired capital injection towards scaling up its current human resources capacity and introducing new services with its partners. 

At the moment, the firm is reportedly offering NFT embedding services that equip owners of websites such as blogs or stores the power to integrate simplistic NFT buying and selling functionalities.