Ripple Invests In NFT Financing Platform SuperMojo

July 16, 2022 4:45 pm

It was just announced that payments company Ripple has invested in a NFT financing platform called SuperMojo and the intention of the investment is to help digital assets become more accessible for everyone.

SuperMojo is known as a popular platform that provides point of sale financing that exactly fulfills that purpose.

So far, the platform has already acquired major funding from multiple rounds of seed funding from other major players in the crypto industry such as BH Digital, DRW Venture Capital, Intersection Growth Partners, and Neuberger Berman.

Now with Ripple providing funding as well, it seems that SuperMojo is positioned to become one of the prime NFT financing platforms that will make NFTs extremely easy to purchase.

Bitcoinist.com reports:

The NFT marketplace was co-founded by two former Ripple executives Amir Sarhangi, CEO at Supermojo, and Craig DeWitt, the platform’s Head of Product and Engineering.

According to the press release, the NFT financing platform will provide users with an “improved” NFT purchase experience.

In addition, users will be able to access “improved” post-sale liquidity by lending their assets. Supermojo was created with the ultimate objective of, according to the release, making NFTs accessible via flexible payment and providing users with unique liquidity options.
Sarhangi said the following on their vision for Supermojo and its financing model:

The NFT market needs to welcome new users in order to keep scaling. NFT marketplaces and storefronts have yet to offer the payment methods most people are familiar with when buying online. ‘Buy Now, Pay Later’ experiences are critical to excellent checkout experiences.

With SuperMojo becoming one of the lead NFT platforms in the crypto space and Ripple having plans to expand NFTs onto XRPL, it seems that this investment by Ripple is exactly what both companies needed.

SuperMojo’s head of product and engineering even made a bold claim that they believe that digital assets will soon become the largest market in the world.

One of the major upcoming markets that they believe will be essential soon is “buy now, pay later” models for NFTs which may needed to fuel major growth in the space.

If Ripple can help play an active role in helping to create such a utility, it may soon expand the use cases of XRPs for a whole new market.

BitCoinist concludes:

Thus, why they are making an emphasis on improving user experience and accessibility “, especially those without crypto expertise”, DeWitt said. Supermojo has a checkout and lending platform that will be familiar for users with less technical expertise and crypto knowledge.

Andrew Steinwold, managing partner of Sfermion, one of Supermojo’s investors said:

There is significant appetite for an embedded Buy Now, Pay Later model for NFTs, which makes Supermojo uniquely positioned to fuel the next evolution of this ecosystem.

This type of innovation is critical to the sustained growth of the space, and we are thrilled to be supporting Supermojo and its strong management team of highly experienced operators and visionaries to deliver a much-needed product.

At the time of writing, XRP’s price trades at $0.3 with a 1% profit in the last 24 hours.

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