Stacks Foundation Funds Niftmint's Blockchain Expansion with $50,000 non-dilutive grant
Updated: Sep 20, 2022
18 July 2022
Seattle, Washington - Niftmint announced the successful awarding of a $50,000 grant from the Stacks Foundation, the organization supporting development and integration of the Stacks Blockchain. With this grant, Niftmint will be able to bring the Niftmint infrastructure to the Stacks Blockchain, providing its NFT integrations on top of the Bitcoin Blockchain.
Stacks, the open-source platform to build smart contracts and decentralized blockchain applications, connects to the Bitcoin Blockchain, allowing for smart contracts and NFTs to be minted to the Bitcoin Blockchain.
“We’ve been bullish on both the Bitcoin Blockchain and the Stacks Platform since the beginning,” said Jonathan Blanco, CEO of Niftmint. “At Niftmint, not only do we want to expand Blockchain functionality for the Brands that use our integration, but so often as the stewards of these Brand’s first forays into Web3 technology, its important for us to have the partners ready to provide best-in-class onboarding and premier integrations. For us, bringing our solution to Stacks is a major step in the right direction.”
With this grant, Niftmint is now working on integrating its ‘Mint-Sell-Custody-Transfer’ process for NFTs to the Stacks Blockchain. At the completion of this integration, Brands will be able to sell Stacks Blockchain-based NFTs directly in their ecommerce channels via native integration, without imposing Web3 requirements on the Brands. Consumers will be able to buy, view, and use their NFTs on these Brands environments without having to have wallets, cryptocurrency, or any other Web3 instruments – all on top of the Stacks Blockchain.
In the project assessment and in awarding of the grant, the Stacks Foundation noted perfect scores for Project Clarity, Project Audience, New and Novel Technology, Project Impact, and Project Roadmap. To view the grant, visit https://grants.stacks.org/dashboard/grants/489
Niftmint is an eCommerce integration allowing brands to mint, display, sell, and custody NFTs directly in their eCommerce platforms, without needing to send customers to 3rd party marketplaces or introduce crypto workflows. With Niftmint, Brands can treat NFTs as digital inventory, and do what they’ve always been good at – giving their customers what they want. To learn more, visit www.niftmint.com
About Stacks Foundation
The Stacks Foundation is building out the Stacks blockchain, the L1 proof-of-transfer Blockchain running parallel to Bitcoin, allowing for smart contract and NFT functionality on the Bitcoin Blockchain. The Stacks foundation is the home for governance of Stacks’ open-source technology, serving as neutral ground for various parties to come together and reach consensus on the path forward. They support independent researchers, contributors, and collaborators to help build a better user owned internet through research and development. To learn more, visit www.stacks.org