Unique Network, the pioneering NFT-focused blockchain built on Polkadot and Kusama, has announced a $11.3 million funding round. This investment, led by Outlier Ventures with participation from The LAO, Flamingo, Nalu Capital, and over 200 other investors (including existing backers), brings the project's total funding to $16 million.
Key Developments
- Purpose: The capital will accelerate preparations for Quartz, Unique Network’s upcoming Kusama-based NFT chain.
- Technology Edge: As the first NFT-specific chain on Polkadot/Kusama, Unique Network offers scalable, cost-efficient solutions tailored for NFT developers.
Why This Matters for the NFT Space
1. Polkadot’s Expanding NFT Infrastructure
Unique Network’s specialized architecture addresses critical gaps in NFT development:
- Flexibility: Supports customizable smart contracts for diverse NFT use cases (gaming, art, DeFi).
- Low Costs: Reduces gas fees compared to Ethereum-based alternatives.
2. Quartz: A Kusama-Powered NFT Chain
Slated for launch soon, Quartz will leverage Kusama’s scalability and interoperability, enabling:
- Faster transaction finality.
- Cross-chain NFT transfers within the Polkadot ecosystem.
Core Keywords
- Polkadot NFT
- Unique Network
- Kusama Quartz
- NFT Blockchain
- Web3 Funding
👉 Explore Polkadot’s NFT innovations
FAQ Section
Q: How does Unique Network differ from Ethereum’s NFT solutions?
A: Unlike Ethereum’s congested mainnet, Unique offers dedicated NFT infrastructure with lower fees and Polkadot’s cross-chain capabilities.
Q: What is Quartz’s role in Kusama’s ecosystem?
A: Quartz will serve as a canary network for Unique, testing NFT functionalities before full deployment on Polkadot.
Q: Who are the major backers of Unique Network?
A: Outlier Ventures spearheaded this round, joined by The LAO, Flamingo, and 200+ investors.