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NFT Lending Platform Arcade Raises $15M In Series A Funding Led By Pantera Capital
Summary: Arcade (formerly Pawn.fi), a platform that allows users to use NFTs as collateral to provide loans, raised $15 million in A round of financing led by Pantera Capital. Castle Island Ventures, Franklin Templeton Blockchain Fund, Golden Tree Asset Management, Eniac Ventures, Protofund, Maybe Nothing Capital and Lemniscap participated in the investment, the round was supported by ...
Arcade (formerly Pawn.fi), a platform that allows users to use NFTs as collateral to provide loans, raised $15 million in A round of financing led by Pantera Capital. Castle Island Ventures, Franklin Templeton Blockchain Fund, Golden Tree Asset Management, Eniac Ventures, Protofund, Maybe Nothing Capital and Lemniscap participated in the investment, the round was supported by angel investors from BlockFi CEO Zac Prince and Quantstamp CEO Richard Ma.
Arcade co-founder Robert Masiello said that the financing will help to expand its team, publicly launch the platform and attract more users. Arcade currently has 13 employees and is hiring for various positions in product, business development, and marketing capabilities.
Arcade has launched a private beta and will be open to the public at the beginning of the first quarter of 2022. The platform currently supports Ethereum-based NFTs as collateral to obtain loans for all ERC-20 tokens like Wrapped Ethereum (wETH), USDC, and DAI. Other blockchains and layer 2 networks are also being explored to support in 2022.
By Mary Liu
Tags: Arcade,Castle Island Ventures,Franklin Templeton Blockchain Fund,NFT,Pantera Capital
Link: NFT Lending Platform Arcade Raises $15M In Series A Funding Led By Pantera Capital [Copy]
