Tabi, formerly known as Treasureland, a nonfungible token (NFT) marketplace, has successfully concluded an angel funding round, raising $10 million, as announced by the BNB Chain-based platform on May 10.
The funding round was led by prominent venture capital firms, including Animoca Brands, Draper Dragon, Hashkey Capital, Infinity Crypto Ventures, and Youbi Capital. Notable individual investors participating in the round include Bo Feng from Dragonfly Capital, Riyad AD from Saudi Arabia, and Suji Yan from Mask Network. The funds raised will primarily be utilized for the development of Tabi’s gaming ecosystem and the creation of its upcoming on-chain identity protocol. Notably, Binance Labs had previously invested in Tabi in May 2021.
Apart from its NFT trading and launchpad features, Tabi incorporates a unique mechanism where users’ on-chain activities are converted into “experience points,” which can be exchanged for future airdrop rewards and earnings. The platform also includes a gaming hub that aggregates transactions and entertainment from blockchain-based games.
Additionally, Xavier Lee, the founder of Tabi, announced plans to launch an “NFT incubation fund” aimed at incentivizing developers to create their products, artworks, and brands on the BNB Chain. Tabi was established in 2021, and to show appreciation for its early supporters, the platform has launched a “reward plan” on the same day as the funding announcement.
Binance has been significantly expanding its operations in the NFT space this year. For instance, on March 2, the exchange’s native NFT AI generator, called “Bicasso,” reached its minting cap of 10,000 tokens within just three hours of launch. Furthermore, on March 8, Binance announced its integration of support for Polygon into its NFT marketplace.