Idexo, a cross-chain platform that provides APIs for apps to easily integrate NFTs and its marketplaces, has raised $2.5 million, a press release on September 15 reveals.
Funds for Building, over 10 Top-Tier Firms Participated
According to the team, the funds will go towards building cross-chain NFT and API, promoting the adoption of the technology which can find application beyond just art but in the real economy.
Through Idexo, developers can quickly integrate NFTs and NFT marketplaces into apps.
Commenting, the team said:
“We are grateful for the confidence our many visionary investors have shown in Idexo. We have been able to leverage their myriad talents as well as investment to gain insights, introductions, and advice that continue to help us execute at a lightning pace in growing our community through NFTs, building out our roadmap, and now signing up new CDK customer partners.”
Among participating crypto funds are Outlier Ventures, Moonwhale Ventures, BlackDragon, Heat Capital, and 11 others. Jamie Burke of Outlier Ventures believes that the Idexo team has what it takes to eliminate the complexities of individual blockchains, allowing for easy adoption by the non-tech savvy. This aligns with Idexo’s objective of making blockchain, specifically the NFT experience, fun, and simple.
Easing the NFT Experience using APIs
The team has realized that blockchain wallets can be challenging for new users. At the same time, wallets introduce new responsibilities that newbies aren’t prepared to deal with.
For example, new owners must protect private keys from third parties lest they lose control. Because of this, hundreds of millions worth of valuable digital assets are now lost, irretrievable from the digital ether.
The goal of Idexo is to change the narrative and make NFTs more appealing to the masses by utilizing the convenience of APIs. Herein, transactions would be executed through a simplified API code, not a blockchain wallet. In this manner, Idexo aims to streamline the developer and the user experience.
Idexo supports the Binance Smart Chain (BSC), Ethereum, Polygon, Arweave, and Avalanche. However, the team is looking forward to expanding into more active blockchains.