Adobe to Acquire Figma in Merger That Might Boost Visual NFT Initiatives
Summary
The previous investors in the web design platforms include the likes of Index Ventures, Kleiner Perkins, and Greylock Partners. Dylan Field, the CEO of Figma, seemed to be excited about the partnership, saying there is “a huge potential” for both companies and features designers can get from this collaboration, he explained during an interview with Bloomberg. Adobe President of Digital Media Business, David Wadhwami, is not alarmed by the fact that this acquisition deal happened during the global market downturn. He believes Figma is one of the best companies to acquire at this point, as he evaluates it as cash flow positive, with a net dollar retention rate of over 150%. Digital collectibles sellers could link their crypto wallet to their Adobe ID, which will prove the authenticity of NFTs, should NFT marketplaces check it.
