OpenSea backs NFT minting platform Fair.xyz in $4.5 million round

Quick Take

  • NFT marketplace OpenSea has backed minting service Fair.xyz in a $4.5 million round. 
  • Venture capital firm Eden Block led the round while OpenSea, NFX and First Minute Capital also participated. 

OpenSea has backed non-fungible token (NFT) minting platform Fair.xyz in a $4.5 million round led by venture capital firm Eden Block. 

Other investors in the round included NFX and First Minute Capital, Fair.xyz told The Block. The startup, which has partnered with the Ukrainian government to help launch its own NFTs to fund the war against Russia, was valued at $33 million after the round closed.

According to the founders Isaac Kamlish, Isaac Bentata Chocron and Nathan Cohen — all former Meta and Goldman Sachs engineers — the current process of minting NFTs is broken. They describe how a lack of developer knowledge, gas fees a