Key takeaways:
- OnePlanet has raised $3.35 million in a funding round led by Hashed
- OnePlanet is an NFT marketplace built on Terra, a rapidly-growing blockchain platform
- The platform also features a launchpad for new NFT projects
OnePlanet plans to accelerate its Terra-based NFT marketplace with $3.35 million in new funding
OnePlanet, an NFT marketplace built on the Terra blockchain platform, has raised $3.35 million led by the South Korea-based venture capital firm Hashed. Other participants in the funding round included Animoca Brands, Galaxy Interactive, SkyVision Capital, SNOW and Pala.
In addition to serving as an NFT marketplace, OnePlanet also offers a Launchpad where new NFT projects can make their debut on the market. OnePlanet has been in operation since January this year, and has already facilitated the launch of multiple NFT projects. This includes Derby Stars, a horse racing game where users can raise their own virtual horses, and Cosmic Perspective, a collection that documents the progress of SpaceX’s ambitions of travelling to Mars. The marketplace also features other Terra-based NFT collections like Galactic Punks and Luna Bulls.
The Terra blockchain is suitable for NFT trading as it offers fast transaction times and low gas fees. Building an NFT marketplace on Terra also benefits from access to the broader Terra community, which is growing at a rapid pace. LUNA, the main asset used on the Terra network, has ascended to a market capitalization of $38.2 billion.
Despite being built on Terra, OnePlanet sports a user experience that will feel familiar to NFT fans making the transition from other blockchains and marketplaces.
With the new funds secured in the $3.35 million round, OnePlanet plans to accelerate the development of its platform and help it reach more users through strategic marketing initiatives.
Simon Kim, a managing partner at Hashed, commented on their investment in OnePlanet:
»It is always exciting to support such young and intelligent teams. We are noticing a growing number of highly motivated and execution-driven teams building on the Terra ecosystem, and OnePlanet is a great example of the ecosystem’s growth. With smooth user experience and decentralized governance, we believe OnePlanet can lead the Terra NFT marketplace and become one of the dominant players in this vertical.«
Meanwhile, OnePlanet CEO Pryce Cho highlighted the project’s long-term ambitions, which encompass creating an NFT ecosystem with utility at the forefront. According to Cho, OnePlanet also intends to strengthen the platform’s governance system and make further improvements to the marketplace’s front-end.
