Burnt Finance bags $8M funding led by Animoca Brands

Solana-based non-fungible token (NFT) marketplace Burnt Finance, best known for burning then tokenizing street artist Banksy’s artwork, announced on Tuesday an $8 million Series A funding round led by Animoca Brands.

Fast facts

• Other investors in this round include Alameda Research, Multicoin Capital, Valor Capital, Figment, Spartan Capital, HashKey, Terra and Fantom. 

• Burnt Finance got the attention of the cryptocurrency and art community after burning Banksy’s Morons last March before tokenizing and selling it as an NFT for 228.69 ETH, or around US$380,000 at the time of sale.  

• Burnt Finance’s Inferno Mainnet has gone live this week, which aims to combat NFT replications and market manipulations. 

• Burnt Finance team members including founder Burnt Banksy remain anonymous.