NFTPort raises $26 million from Taavet+Sten and others

Quick Take

  • NFT infrastructure startup NFTPort has raised $26 million.
  • The firm plans to scale its platform and support more blockchains.

NFTPort, a crypto startup that provides non-fungible token (NFT) infrastructure for developers, has raised $26 million in a Series A funding round.

Taavet+Sten — the investment vehicle of Taavet Hinrikus (Wise co-founder) and Sten Tamkivi (Teleport co-founder) — and Atomico, the European venture capital firm, co-led the round. 

As part of the deal, Tamkivi has also joined NFTPort as a co-founder. Rain Johanson, former CTO of Estonian mobility company Bolt, has also joined NFTPort as a co-founder and CTO. 

Tamkivi and Johanson join NFTPort's existing co-founders Johannes Tammekand and Kaspar Peterson.

What is NFTPort?

Based in Estonia, NFTPort helps developers quickly build NFT-based applications through its infrastructure.

"Our infrastructure enables developers and companies to bring to market their NFT applications in hours or days, instead of months and thus save hundreds of thousands of dollars," said Tammekand.

Specifically, NFTPort provides three key products: data APIs, minting APIs and user safety APIs. Data APIs enable developers to access NFT data from the Ethereum, Polygon and Solana blockchains "in a day."


Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

Minting APIs, on the other hand, allow developers to deploy and manage NFT smart contracts without writing any code. And user safety APIs act as a "counterfeit detection engine" to cross-check if a given NFT has been previously minted on any of NFTPort's supported chains, thus increasing user safety. 

NFTPort says its infrastructure is used by over 30,000 developer teams, including Nifty Gateway, the Gemini-owned NFT marketplace, and Protocol Labs, the company behind Filecoin and other projects.

Protocol Labs is one of NFTPort's participating investors in the Series A round. Other backers in the round include IDEO CoLab Ventures, Polygon co-founder Jaynti Kanani, Polkadot co-founder Jutta Steiner, CTO Ott Kaukver and former Coinbase CTO Balaji Srinivasan, who co-founded Teleport with Tamkivi.

Expansion plans 

With fresh capital in hand, NFTPort plans to scale its infrastructure and support more blockchains. The firm also plans to build a decentralized NFT infrastructure protocol in the future, said Tammekand.

To that end, NFTPort is also looking to expand its current team of 18 people to more than 50 people in the next 12 months, Tammekand said. The firm will hire across engineering, product and marketing functions.

The Series A round is NFTPort's first fundraise and was closed in March, said Tammekand. He added that it was an equity round and declined to comment on the firm's valuation.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.