NFT development studio Mojito reportedly revealed details regarding a successfully secured $20M via seed funding from numerous investors, including global top-tier auction house Sotheby’s.

Specifically revealed by Forbes, Sotheby’s auction house – via a formed alliance with Future Perfect Ventures, Creative Artists Agency and NEA’s Connect Ventures – which made contributions to the round, helping Mojito’s reach an approximate value of $100 Million.

The start-up from Delaware reportedly disclosed that the freshly obtained financial support will be channeled towards fast tracking and building its engineering teams, introducing an enhanced version of the existing NFT platform, as well as additionally growing its NFT trading and investment platforms.

The NFT market has reportedly undergone a decline regarding its month-on-month sales from early September, though the figure was still in the resistance zone of $1.8 and $2.1 billion for last month. 

The NFT market’s overall monthly sales reportedly achieved a record-breaking high of $3.7 billion in September, following a gradual incline in the later days of July. $31 million of the existing overall NFT market sales is generated from the sale of art-based assets.

Different digital art marketplaces, nominally OpenSea, reportedly gained significant reputation throughout this time also, helping finalize 98 percent of the market’s transactions through August this year. 

Art dealers and museums have reportedly got their eyes on the field, and are going after the bag which is easy to spot in this new market of one of the most emerging aspects of crypto. 

Both Sotheby’s and Christie’s auction houses have reportedly carried out successfully a variety of auctions in 2020. Christie’s took the pioneering role of the two to organize an international auction of an NFT.