Solana’s Jupiter Acquires DRiP Haus, Leading DeFi Exchange’s Entrance into NFT Market

Non-fungible tokens (NFTs) may have tapered off from their peak, but Jupiter is betting big on their future. The top DeFi exchange on Solana has acquired digital collectibles platform DRiP Haus, aiming to become a comprehensive platform for both financial traders and digital culture enthusiasts.

Jupiter’s Kash Dhanda believes in the longevity of NFTs despite naysayers. He envisions Jupiter as the “Solana super app” catering to a wide range of users.

Originally stemming from the short-lived Solana store experiment, DRiP Haus has found success as a hub for distributing digital collectibles. Rather than solely focusing on trading, it serves as a platform for startups in Solanaland to showcase their visual campaigns.

The acquisition details, including the financial terms, were not disclosed publicly. However, it was estimated to be valued at twice the startup’s previous funding amount of $11.5 million.

Jupiter’s co-founder Meow hinted at the acquisition in February as part of a larger strategic move to incentivize acqui-hired teams and enhance the platform’s NFT capabilities.

Half of DRiP’s team will continue working on the distribution platform, while the other half will help Jupiter improve its NFT services. DRiP’s brand will remain distinct but undergo visual alignment with Jupiter.

Going forward, Norby will oversee DRiP within Jupiter and focus on building a top-notch NFT experience within the mobile app.

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