polkarare
A multichain NFT marketplace powered by Polkadot, Polygon, Ethereum, and Binance Smart Chain.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor investor | €0.0 | round |
* | $2.0m | Seed | |
| Total Funding | 000k | ||
Polkarare operates as a blockchain-based web3 platform for non-fungible tokens (NFTs), founded in 2021 by Pramod Mahadik and based in Mumbai, India. Mahadik, a software developer with over eight years of experience in project building and four years in the blockchain space, now serves as a technical advisor to Playcent following their acquisition of Polkarare.
The company functions as a multi-chain NFT marketplace, enabling users to create, trade, and discover digital assets. Its platform is powered by Polkadot, Polygon, Ethereum, and Binance Smart Chain, addressing the high transaction fees and network congestion often found on single-blockchain platforms. This cross-chain capability allows users to select their preferred blockchain and transfer assets between networks. Polkarare's business model centers on its Web3 economy, which facilitates a range of NFT-related activities. Revenue is generated through transaction fees on the platform, and the native token, PRARE, is utilized for governance, staking rewards, and as a medium of exchange.
Polkarare's core service is its marketplace, which supports gasless transactions and 3D art galleries. The platform offers several distinct features, including NFT-collateralized loans, where users can borrow against their NFTs or lend to others. It also provides a multi-chain wallet for storing both NFTs and other digital assets across various blockchains. For creators, Polkarare allows for the configuration of secondary sale royalties and offers an unlockable content mode for private files. The ecosystem is powered by its utility and governance token, PRARE, an ERC-20 compatible token with a total supply of 100 million. PRARE holders can participate in governance by voting on proposals, earn staking rewards, engage in NFT farming, and receive exclusive NFT drops. A significant milestone for the company was its acquisition by Playcent, a decentralized play-to-earn gaming platform, in February 2022, a move intended to enhance the NFT experience on both platforms.
Keywords: Polkarare, Pramod Mahadik, NFT marketplace, web3 economy, multi-chain, cross-chain, PRARE token, NFT collateralized loans, NFT wallet, digital assets, blockchain, Polkadot, Ethereum, Binance Smart Chain, Polygon, Playcent, NFT farming, staking rewards, governance token, crypto lending