An oversubscribed funding round has netted the Mintable nonfungible token (NFT) minting platform and marketplace a absurd $13 million.

The Serial A funding round for the Singapore-based startup included some big proper name participants including Ripple, mobile and blockchain gaming programmer Animoca Brands, and Metapurse, the world's largest NFT investment fund.

Ripple put out an annunciation stating that Mintable plans to integrate the business firm's own blockchain, XRP Ledger (XRPL) which information technology says is already carbon neutral and is "ideally suited to deliver a seamless experience for NFTs".

"Its environmentally friendly attributes volition allow billions of NFTs to exist minted, bought and transferred on the XRPL in a sustainable way."

Mintable, which is currently an Ethereum-based platform, is amid a number of crypto-related investments in Dallas Mavericks owner Mark Cuban'south burgeoning portfolio. The billionaire investor previously participated in Mintable's $2.5 one thousand thousand seed round in March.

The platform, which was launched in 2022, has minted more than than 700,000 items over the past twelvemonth enabling the establishment of a growing catalog of unique items, such equally digital fine art, music, collectibles, and gaming items.

Mintable has sold and auctioned works by various Grammy-Accolade winning artists and high-profile artists, celebrities, and sports professionals and implemented a unique gas-complimentary minting feature that allows users to create their NFTs without being burdened past high network fees.

In an announcement on July 1, Mintable stated that information technology will utilise the funds to focus on scaling its operations and boosting its growth and user acquisition initiatives.

General Manager of RippleX at Ripple, Monica Long, stated information technology had invested in Mintable due to a shared vision for cost-efficient and sustainable NFTs:

"Accelerating the growth of this creator economy starts with an infrastructure that removes the barriers to entry — such as high gas fees and environmental costs of creating NFTs — faced past many today."

Related: New tech allows crypto users to mint NFTs with 'proof of presence'

In late Apr, NFL Jacksonville Jaguars quarterback Trevor Lawrence sold a NFT collection on the platform for over $400,000. In March, a NFT representing a l% share in a St Louis home was put up for auction on the Mintable platform.