Bitmark Secures $5.6M for its Interoperable NFT Wallet

Bitmark, a blockchain startup, is stepping up its work with non-fungible tokens (NFTs). The company announced Wednesday that it had raised $5.6 million after launching its Autonomy NFT wallet.

The wallet, named “Autonomy,” is looking to bridge the gap between mainstream art collectors and the world of NFTs.

The dedicated NFT wallet from the firm intends to offer an interoperable means for NFT collectors to display their collections. According to a spokesman, the platform is now available on mobile devices as an app and is compatible with the Ethereum and Tezos blockchains, however the business aims to add more connections in the coming months.

Bitmark Launches Interoperable NFT Wallet

Sean Moss-Pultz, CEO of Bitmark, believes the industry surrounding the booming digital art trend is still in its infancy. While interest in the space has never been higher, innovative ways to display NFTs have lagged. “I think in the next year or two, we’re going to see a ton of innovation in space,” Moss-Pultz told CoinDesk in an interview. “The reason that I strongly believe this is I know of a number of larger display manufacturers that are making dedicated, really beautiful panels just for displaying digital art.”

Besides, Bright Moments, which has been putting on pop-up NFT exhibitions across the world for high-profile generative artists, and Web3 Gallery, an NFT-dedicated art gallery in New York City, are both getting in on the action.

Galaxy Interactive and North Island Ventures led Bitmark’s funding. The company’s most recent funding round was in 2016, when it received $1.7 million from Cherubic Ventures.