Non-fungal tokens (NFTs) may be good of their foamy heights, but do not tell Jupiter. Solana’s Top Defi Exchange has just put Digital Collectibles Platform Drip Haus in its job.
The acquisition is part of Jupiter’s push to become what Jupiter’s Kash Dhanda calls the “Solana Super app:” Not only a house for traders of financial instruments such as Swaps and Perps, but also for conners of digital culture.
“We don’t believe it,” said Dhanda about the NFT Doomsayers. “We think that NFTs are here for the long term.”
Built from the stones of the short-lived Solana store, Drip Haus survived the brutal decline of the NFT market as a digital distribution hub. Instead of acting, it focuses on spread: startups in Solanaland Spin -up and send their visual campaigns on a drop, according to Dhanda, who estimates that it now creates the vast majority of Solana NFTs that “not spam”.
Dhanda and Drip Labs founder Vibhu Norby both refused to indicate how much Jupiter paid in the All-Cash Deal. A person who was familiar with the deal estimated the money raised twice. The startup previously raised $ 11.5 million at Venture Investors.
Jupiter co-founder Meow hinted on the acquisition at the end of February during his campaign to postpone a tokend day of several millions of dollars, which later yields more JUP for him, while now to finance Token Stimulation Programs for transferring teams. Norby confirmed that his team would get tokens from the Incentives program.
Half of the eight-person team of Drip will continue to work on the distribution platform, while the other half will concentrate on strengthening the currently non-existent NFT possibilities of Jupiter, the most critical by adding a Swaps router to the homepage of the Defi Exchange.
Norby will supervise a drop from a “executive, strategic position” from Jupiter. Although the drip brand will remain separate, Norby said that his visual identity will be reworked to connect more closely with the new mother ship. He also works on building a “real, really excellent NFT experience” in the Jupiter’s mobile app.