Estonia’s NFTPort has raised $26 million, and fundamentally changed my opinion of NFTs.
Summary
The funds will be used to further scale the companys core product offering, one that promises to bring NFT apps to market in a matter of hours instead of months.Generally speaking, anytime I hear NFT-anything my left iris starts drifting north, only to be followed seconds later by my entire face glazing over in a look of, "Again? If thats all there is to it, why isnt everyone and every organisation wrapping everything in sight?When a company decides to build their NFT infrastructure today, it would either have to expend significant sums of money for scarce web3 developers or invest time upskilling a web2 developer to carry out the work, explained NFTPort CEO and co-founder Johannes Tammek\xe4nd. Managing constantly evolving blockchain technology quickly becomes a multi-million dollar problem for most companies wishing to build their own NFT infrastructure; like accepting payments online pre-Stripe or building a tech-based product pre-cloud.Basically, a blockchain stack is by no means an easy feat to master, NFT infrastructure is hard to manage and costly, and speed counts; if youre not first to market, youre practically already dead in the water.Demand will only increase further as NFTs move beyond images, which will compound pre-existing supply-side issues, added Tammek\xe4nd. Hopefully, its the latter.Already in use by some 30,000+ developer teams, NFTPorts offer regularly makes an appearance at notable Web3 companies including Nifty Gateway and Protocol Labs. However, a lot of the infrastructure required to underpin the widespread adoption of NFTs and other web3 technologies still needs to be built, and this is where NFTPort comes in, commented Atomicos Irina Haivas.