Mintable

About Mintable

Mintable operates as a non-fungible token (NFT) marketplace built on the Ethereum, Zilliqa, and Immutable X blockchains, positioning itself as an accessible platform for a wide range of users, from artists and creators to collectors. Founded in 2018 by Zach Burks, a blockchain developer active in the space since 2012, the company aims to simplify the process of creating and trading digital assets. Burks's vision was to create a platform that was intuitive enough for anyone, including his mother, to use, thereby lowering the barrier to entry into the NFT ecosystem.

The company is headquartered in Singapore and has secured significant financial backing to fuel its growth. In July 2021, Mintable closed a Series A funding round of $13 million, attracting high-profile investors such as Ripple, Animoca Brands, Sound Ventures (founded by Ashton Kutcher and Guy Oseary), and Mark Cuban. This followed an earlier seed round, bringing total funding to $13 million over two rounds. The capital has been directed towards scaling operations, user acquisition, and product development.

Mintable's business model is centered on transaction fees. The platform charges a 2.5% fee on standard NFT sales, 5% for items minted using its gasless feature, and 10% for printable NFTs. This fee structure is designed to offer flexibility to creators. The core of Mintable's service is its marketplace, which allows users to buy, sell, and create a variety of NFTs, including digital art, music, videos, and collectibles. A key feature is its "gasless minting" option. This allows creators to list an NFT for sale without paying upfront blockchain transaction fees, which are traditionally a significant cost barrier. Instead, the gas fee is paid by the buyer upon purchase, and the token is immediately created on the Ethereum mainnet. The platform also provides tools like a rarity meter to help users assess the uniqueness of an asset and allows creators to set royalty percentages for secondary sales, ensuring a continuous revenue stream.

Serving a global user base of creators and collectors, Mintable has facilitated the minting of hundreds of thousands of items on its platform. Strategic partnerships have been a key part of its expansion, including an integration with Immutable X to offer gas-free trading and with the XRP Ledger to enable minting with low transaction fees and fast settlement.