Talis Raises $2.3M to Build NFT Marketplace and More on Terra Blockchain

As NFTs find their footing on blockchains not named Ethereum, their historical home, various projects are looking to replicate the success of on-chain marketplaces such as OpenSea, Rarible and Nifty Gateway. Similar races are shaping up between marketplaces like Solanart and Magic Eden on Solana, and Talis is going head-to-head with Random Earth, another Terra NFT hub. The upgrade will turn the company’s marketplace into a decentralized autonomous organization (DAO), integrating a governance system with a network of printing businesses for artists to use in the meatspace, according to a press release. A DAO is a group of people on the internet using various tools to exercise governance decisions relating to blockchain protocols, pooled investments or any number of other experiments. The marketplace also hopes to offer DeFi lending services for its TALIS token, which the company said can be staked for an 18% interest rate, according to a press release.