On May 10, the BNB Chain-based platform announced that Tabi, the non-fungible token marketplace formerly known as Treasureland, had closed a $10 million angel round of funding.
The funding was seeded by venture capital firms Animoca Brands, Draper Dragon, Hashkey Capital, Infinity Crypto Ventures, and Youbi Capital. Individual investors include Feng Bo of Dragonfly Capital, Riyad AD of Saudi Arabia, and Suji Yan of Mask Network. According to the developers, the funding will be primarily used to develop Tabi's gaming ecosystem and build out its upcoming on-chain identity protocol. Binance Labs previously invested in Tabi in May 2021. In addition to NFT transactions and Launchpad functions, Tabi also conver ts users' on- chain activities into "experience points" that can be exchanged for future airdrop rewards and benefits. The agreement also includes a game platform that aggregates blockchain game transactions and entertainment.
In addition, Tabi founder Xavier Lee said that the project plans to launch an "NFT Incubation Fund" to incentivize developers to design their products, art, and brands on the BNB Chain. The project was established in 2021. To reward its early backers, Tabi said it will launch a "reward program" the same day the funding is announced.
Binance has increased its NFT-related business this year. The cryptocurrency exchange's native NFT AI generator, dubbed “Bicasso,” hit its minting cap of 10,000 less than three hours after launch on March 2. On March 8, Binance announced ed the integration of Polygon Support access to its NFT marketplace. Last November, OpenSea, the most popular NFT marketplace at the time, said it would integrate the BNB Chain into its marketplace. This move will allow users to buy, list and trade BNB Chain NFTs directly on OpenSea .
