NFT media management platform Pinata raises $21.5 million in combined seed and Series A funding

Pinata, a agency constructing a decentralized media administration system for non-fungible tokens (NFTs), has raised a complete of $21.5 million {dollars} in enterprise capital.

Greylock, Pantera Capital and Offline Ventures co-led the funding spherical, with extra participation from Volt Capital, Opensea and Alchemy. The $21.5 million is made up of $18 million in Sequence A funding and $3.5 million in seed funding.

Pinata integrates with the Interplanetary File System (IPFS), a decentralized information storage system, to present customers the infrastructure they should construct NFT tasks, marketplaces different web3 apps on any blockchain. The agency intends to make use of the funding to bolster its product lineup and develop its workforce.

Pinata joins a rising record of web3 corporations creating blockchain-based variations of companies like GoDaddy Amazon Net companies.

“Creators want storage capabilities and a quick and highly effective technique to distribute their content material throughout marketplaces, metaverses, social media, and the web en masse,” CEO Kyle Tut stated in a launch. “Pinata empowers creators of every kind to serve content material at scale with none technical expertise required.”