Burnt Finance Raises $8M in Series A Funding

▤ Summary

Burnt Finance, a NYC-based fully-decentralized NFT auction protocol built on Solana, raised an $8M Series A round of funding. The company also announced the public launch of its NFT marketplace, which will feature English, Dutch, and Buy Now auctions. In the coming quarters, it will integrate DeFi functionality which includes NFT lending, liquidity mining with staking incentives, fractionalization, and GameFi. Burnt Finance also plans to expand to additional blockchains including Terra and other EVM compatible layer one protocols. Since its inception, Burnt Finance has gathered over 160,000 users on its waitlist and processed over $100 million of trading volume in 7 days on its Spark testnet.

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