Pinata NFT Service Raises $18m Series A
Pinata, the leading NFT pegging service (where the art associated with the blockchain is stored) just received another investment bringing their total to $21.5m to help them scale their infrastructure.
The 4 year old company raised $3.5m in a 2021 seed round, but the new investemend led by Grelock and Pantera allows the Nebraska based company to scale and add infrastructure. This was not unexpected as many web2 providers including cloudflare and others have recently set their sites on web3 infrastructure.
According to their announcement they will use the funds to:
We’ll use this new round of funding to continue investment in our technology infrastructure. Pinata is already the most stable and efficient conduit to the IPFS network, but we can always get faster, more secure, and more efficient. For our creators that means faster uploading, customized experiences for different file types, team accounts, and more ways to engage with your audience.
They also highlighted recent NFT IPFS feature enhancements including:
- Dedicated Gateways
- Resizing of IPFS files
- Streaming through IPFS
- Submarining
Recently, many projects (especially larger projects like many of the common 10k NFT drops) have criticized the platform for their expensive pricing model. They have acknowledged this and discussed that they will be addressing these pricing models as well with the goal of bringing
web3 to a wider audience, and help the world see what’s possible with a bit of creativity and a platform that, well, rocks. We love our technical creators, but we also want to see our no-coders continue to thrive.
They are also hiring a myriad of positions (not just programming.)
You can learn more about their jobs here
