Non -spoiled tokens (NFT) can be good from their sparkling top, but do not say it to Jupiter. Solana’s best DEFI exchange has just brought the DRIP Haus digital collection platform to its orbit.
The acquisition is part of Jupiter’s push to become what Kash Dhanda of Jupiter calls the “Super Solana application:” A house not only for traders of financial instruments like Swaps and Perps, but also for connoisseurs of digital culture.
“We don’t believe it,” said Dhanda about NFT Doomsayers. “We believe that NFTs are there in the long term.”
Built from the bricks of the short -term Solana store, DRIP Haus survived the brutal slowdown in the NFT market as a digital collector distribution center. Instead of negotiating, it focuses on broadcasting: startups through Solanaland run and send their visual campaigns on drip, according to Dhanda, which estimates it now creates the vast majority of Solana NFT which “are not spam”.
The founder of Dhanda and Drip Labs, Vibhu Norby, both refused to say how Jupiter paid in the agreement on everything. A person familiar with the agreement estimated him twice the funds raised. The startup previously raised $ 11.5 million from venture capital investors.
The co-founder of Jupiter, Meow, hinted at the acquisition at the end of February during his campaign to postpone a several million dollars token salary, which gives him more JUP later while funding the token incentive programs for the hired teams acquired now. Norby confirmed that his team would get tokens from the incentive program.
Half of the team of eight people from Drip will continue to work on the distribution platform, while the other half will focus on the currently non-existent NFT capacity of Jupiter, the most critical by adding a Swap router to the DEFI Exchange home page.
Norby will supervise the drop from an “executive strategic point of view” inside Jupiter. While the drip brand will remain separated, Norby said that his visual identity would be reworked to line up with the new mother vessel. He also works on the construction of a “really excellent, really excellent” experience in the Jupiter mobile application.
