The impossible token (NFT) may be far enough out of its foaming height, but don’t tell Jupiter. Solana’s top Defi Exchange has put Digital Collectibles Platform Drip Haus on track.
The acquisition is part of Jupiter’s push to become what Jupiter’s Kash Dhanda calls the “Solana Super App:.” It’s home not only for traders in financial products such as swaps and perps, but also for digital culture enthusiasts.
“We don’t believe it,” Dunda said of the NFT’s destiny. “I think NFT will be here for the long term.”
Built from the bricks of a short-lived Solana Store, the drip house survived the brutal scenery of the NFT market as a digital collectible distribution hub. Instead of focusing on spin-ups of Solanaland and sending visual campaigns with DRIP, Dhanda estimates that instead of trading, it is creating a large portion of Solanalan NFTs “not spam.”
Both Dhanda and Drip Labs founder Vibhu Norby refused to say how much Jupiter paid in all cash transactions. Those who know the trade estimated it at twice the funds. The startup had previously raised $11.5 million from venture investors.
Jupiter co-founder Meow hinted at the acquisition in late February during a campaign to postpone multi-million-dollar token payday. Noby confirmed that his team would obtain tokens from the incentive program.
Half of DRIP’s eight-person team will continue working on the distribution platform, while the other half will focus on strengthening Jupiter’s currently non-existent NFT functionality.
Nobee will oversee IV drips from within Jupiter from an “executive, strategic perspective.” The drip brand remains separate, but Noby said its visual identity will be reworked to more closely align with the new mothership. He is also working on building “really, really good NFT experiences” within Jupiter’s mobile app.
