Overview

Hyperspace focuses on the Solana blockchain and the NFT (Non-Fungible Token) market, providing a platform for buying, selling, and discovering unique digital assets like digital art and collectibles. Users can access a wide range of NFT listings from various marketplaces, making it easier to find the best deals and track new NFT releases. The platform benefits from the speed and low transaction costs of the Solana network, enhancing the trading experience for NFT collectors, investors, and creators. Unlike its competitors, Hyperspace aggregates listings to simplify the discovery process and is currently in beta, allowing user feedback to shape its development. The company's goal is to become the primary platform for Solana NFTs, streamlining the trading experience and fostering a community-driven environment.

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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

$4.5M

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