In line with the increased attention NFT concepts have gotten from artists and brands, Holaplex has generated six million dollars in seed funding to support independent creators. Coin Fund led the seed round, and it received contributions from blockchain-focused companies like Social Capital, Collab+currency, Blockchain Co-investors, Valor, and Solana Capital. Holaplex intends to use the funds to encourage open-source art exhibition, sale, and purchase.
Holaplex is a New York City-based token platform founded in 2021 by Alex Kehaya. The platform uses Solana-powered on-chain protocol, Metaplex, to facilitate decentralized, open-source contribution and customer services from a community of digital artists, musicians, and creators.
Holaplex was created to provide art creators and musicians with free tools for independent NFT sales. According to the founder, artists should create their own NFT marketplace and stores with no code whatsoever and at no huge cost. In addition to that, the platform would allow art collectors and NFT buyers with more than 2000 stores to access works from fast-rising, up-and-coming independent artists and musicians.
To use this service, there must be a substantial amount of users – artists and buyers – on a wallet that accepts Solana tokens. After that, they can create tokens of their artworks or collections and share them with the global community. The traction that each collection, artwork, or piece of music pulls can be monitored through a space called Somonium space – an Ethereum based VR world. Currently, Holaplex hosts about 2000 stores created for NFT sales only.
Holaplex has plans for multiple product releases and feature optimization programs with the funds raised in this round. Some of the new products include new storefront templates, tools for artists to complete drops without coding, tools for Solana-based decentralized auctions, tools for discovering artists, and many more.