Overview

Hyperspace focuses on the Solana blockchain and the NFT market, providing a platform for buying, selling, and discovering unique digital assets. Users can find and track NFTs, including valuable items known as "blue chips," by aggregating listings from various marketplaces. The platform benefits from the speed and low transaction costs of Solana, making it easier for NFT collectors, investors, and creators to engage in trading. Hyperspace operates on a business model that charges transaction fees for each NFT sale, ensuring a steady revenue stream as user activity grows. The goal is to simplify the NFT trading experience and foster a community-driven environment.

Simplify's Take

What believers are saying

• Growing interest in Solana NFTs boosts Hyperspace's potential user base.
• Magic Eden's criticism opens opportunities for Hyperspace to attract dissatisfied users.
• Solana's low transaction costs and speed enhance Hyperspace's competitive edge.

What critics are saying

• Magic Eden's switch to a non-escrow system may increase competition.
• New NFT projects like y00ts could divert attention from Hyperspace.
• Brand confusion with Dubai-based HyperSpace may affect market share.

What makes Hyperspace unique

• Hyperspace aggregates NFT listings across all marketplaces on the Solana network.
• The platform offers a comprehensive NFT trading experience with low transaction fees.
• Hyperspace is community-driven, focusing on user feedback to improve its services.

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Funding

Total Funding

$4.4M

Above

Industry Average

Funded Over

1 Rounds

$4,500,000

Seed

Feb 2022

Seed funding is usually the first official round after pre-seed, when a startup has a prototype or concept. It’s typically used to develop the product, test the market, and start building the team. Investors here are often angel investors or early-stage venture capitalists.

Seed Funding Comparison

Above Average

Industry standards

Ind Avg. $3.3M

$500k

$1.5M

$2M

$2.3M

$3M

$4.5M