London based CoinBurp secured $2 million to build NFT trading Platform

CoinBurp, a London-based cryptocurrency trading platform, has now secured $2 million in the private funding round.

CoinBurp is founded by Peter Wood. It is a cryptocurrency trading platform that will allow the user to get in and out of Defi, hold and trade NFTs, the stake for any APY and earn NFTs – all supported by the single CeFi and Defi app with the fiat capabilities and direct to market access for all the major NFT marketplaces

Unlike cryptocurrencies, NFTs (Non-Fungible Tokens) are digital blockchain-linked assets.  These NFT tokens are unique and cannot be interchanged with any other asset. Once an NFT is created and sold, then it becomes a unique asset for the buyer and cannot be copied. The ownership of the NFT asset is tracked with the help of Blockchain. 

Peter Wood, CEO, and Co-Founder of London city based CoinBurp, said, "CoinBurp is a self-sustaining business as it is, we were in a very good position to make the plunge into DeFi and NFTs - doubling our existing development and marketing teams as well as support and operational in under a month. This comes with increased spend and the funding round has helped us ensure we move fast and we build to last. Our Alpha app is already out and by June, we're going to be taking the NFT world for a serious ride."

Liam Robertson, Alphabit CEO, said, "We at Alphabit are delighted to show our continued support to the UKs number one crypto portal. Peter, and his team have been at the forefront of innovation within the cryptocurrency ecosystem and their continued innovation will assure them of further exponential growth in the years to come. The team and the project exemplify the qualities of an Alphabit portfolio project. Innovative, ahead of the curve and dedicated to disruption of the legacy antiquated systems which create so many barriers in todays and yesteryears financial ecosystem".

As per the 2020 NFT report by NonFungible.com, the non-fungible token (NFT) market was tripled in 2020. The total value of transactions increasing by 299% year on year to more than $250m.

The London city based cryptocurrency trading platform intends to leverage new funds to continue to build and become the Coinbase for NFTs. The CoinBurp's NFT platform intends to bridge the gap between the worlds of CeFi (Centralized Finance) and DeFi (De-centralized Finance). The NFT platform will help users to get in and out of DeFi, hold and trade NFTs, stake for APY tokens and earn unique NFTs. A single CeFi and DeFi app with fiat capabilities and direct-to-market access for all major NFT marketplace, notes the announcement

The Alphabit Capital and Moonrock Capital led the latest funding round. Other participating investors include Pluto Digital Assets, Momentum6, Outlier Ventures, and Blocksync Ventures.

Post funding, CoinBurp also intends to launch a $BURP utility and governance token, notes the announcement.