NFT aggregator platform GalaxE raises $3 million in seed funding led by a number of angel and accredited investors from VC Network, LLC.
What GalaxE Does?
GalaxE by HODL Assets, Inc. was designed to help users buy, sell, and socialize the global marketplace. It claims to be the first cross-blockchain social media NFT Metaverse powered by social currency. Unlike GalaxE, most other NFT marketplaces support only Ethereum.
GalaxE acquired CoinLinked in late August and launched its Beta version thereafter.
HODL has also differentiated itself from its competitors by assessing no initial contract, listing, or auction settlement fees, charging its users only a minting fee.
The HODL platform is also the first NFT marketplace to offer Gaming and Social Networking as part of its native ecosystem.
HODL Assets co-founder and COO, Jenny Ta, explains:
“GalaxE was developed to address the key issues that hinder the current NFT market from fulfilling its massive potential. We focused specifically on finding innovative solutions for several weaknesses we found in the current model, solutions we’re confident will help revolutionize the industry.”
GalaxE Is Different
Some of the problems the HODL has addressed in the new GalaxE platform include the lack of embedded social media, the disadvantages of using a single cryptocurrency (i.e., Ethereum) for payment, the elitism perpetuated by the status quo, problematic security issues that plague the marketplace, and the current overly complicated process of buying and selling NFTs.
In Ta’s view, it doesn’t have to be that way, and the rest of the team agrees. And that’s what gives HODL Assets — and GalaxE — the edge.
According to HODL co-founder and CEO Lenny Schutz, the GalaxE platform offers many competitive advantages over the “Big Four” NFT aggregators in the market space: OpenSea, Rarible, SuperRare, and Nifty Gateway. Says Schutz, “Not only is GalaxE the first NFT platform to offer its own native cryptocurrency — the $HODL token — but it also allows users to pay for their NFTs with any of a number of other popular cryptocurrencies, whereas even the biggest competing platforms limit their transactions to a single currency: Ethereum.”
“By removing minting fees for artists and combining multiple services into the first one-universe NFT Metaverse, we increase creative access to the marketplace while providing more features to users than ever before,” he adds.
The HODL-GalaxE plans to use the $3 million in seed round funding to begin fulfilling its mission of revolutionizing e-commerce by facilitating the wider use of NFTs through Web 3.0, aka the metaverse.
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