Unique Network Raises $4.3 Million to Launch Polka NFT Public Chain

Poca and Kusama’s first NFT chain, Unique Network offers greater flexibility for anyone who wants to build their own gallery or video game.

Unique Network Raises .3 Million to Launch Polka NFT Public Chain

Unique Network, the next generation NFT public chain for the Polka and Kusama ecosystem, announced that it raised $4.3 million in its first round of pre-sale funding led by Web3 investment pioneer Outlier Ventures, with participation from Animoca Brands, DFG and others, according to Yahoo Finance on May 20. The new funds will be used to develop and grow the community, eventually launching Unique parallel chains for Boca and Kusama, and to spur growth through open source base modules that allow anyone to create NFT trading marketplaces without a license.

Unique Network co-founder and CEO Alexander Mitrovich has been leading and planning to use the funds raised to catalyze growth since the platform’s inception. He said.

The biggest problem with NFT is that Ether is not built for non-fungible tokens (NFT), it is a network of fungible token assets. The Unique Network was created to solve the gas problem, lower the education barrier, expand NFT interoperability, and make NFT no longer just visible or participatory. We are building an architecture that allows NFTs to interact with each other, so that non-traditional users can easily understand and interact with them. This is the only way to get to the next iteration of NFT.
The Problem: The first generation of NFTs is overwhelmed
The Unique Network is the infrastructure that will enable the next generation of NFT to flourish. The network was developed out of a pressing need for an NFT platform that addresses the industry’s existing barriers to entry – expensive and cumbersome gas fees, high barriers due to blockchain knowledge, scalability issues, and sustainability issues with the Ethernet governance protocol.

The Solution: NFT for Everyone
As the first parallel chain explicitly designed for NFT on Poca and Kusama, Unique creates a viable solution through a novel NFT pallet design and ownership restructuring. Improvements in interoperability and governance structure will allow users to generate their own NFT collections, royalties and marketplaces. At the same time, Unique Network has released a library of open source components that will allow anyone to launch a custom NFT minting solution, wallet and gallery to participate in the “metaverse” metaverse.

Jamie Burke, founder and CEO of Outlier Ventures, said

The current NFT boom has prompted many retail investors to invest in individual NFTs with the expectation of doubling their value. This does not make sense for the mainstream adoption of NFT technology. The innovative ideas presented by Unique Network help bring this technology to life and provide opportunities for community-driven NFT e-commerce.
Robby Yung, CEO of Animoca, said

We are very excited about Unique’s ability to improve the functionality and interoperability of blockchain gaming and NFT. Hopefully this will be another milestone in providing property rights for gamers.
In the coming months, Unique Network will launch on Kusama and Poca. The platform will focus on creating a new generation of NFT solutions for art, games and many other use cases.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/unique-network-raises-4-3-million-to-launch-polka-nft-public-chain/
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