What to know:

• Jupiter, Solana’s premier DeFi exchange, has acquired DRiP Haus to broaden its NFT capabilities.
• DRiP Haus will maintain its independence while integrating NFT features into Jupiter’s platform.

Non-fungible tokens (NFTs) may no longer be at their peak, but Jupiter, Solana’s leading DeFi exchange, has just acquired DRiP Haus, a digital collectibles platform, to enhance its NFT functionality.

The acquisition aims to position Jupiter not just for traders of financial instruments but also for enthusiasts of digital culture. Kash Dhanda expressed optimism about the future of NFTs, stating, “We don’t believe it. We think NFTs are here for the long term.”

After a turbulent time for the NFT market, DRiP Haus has emerged as a significant distribution hub for digital collectibles, often cited as the source of many legitimate Solana NFTs that are not merely spam.

Though precise financial details remain undisclosed, it is estimated that Jupiter paid double the previous funds raised by DRiP, reported to be about $11.5 million.

Half of DRiP’s eight-member team will work on the platform’s distribution, while the rest will focus on developing Jupiter’s NFT capabilities, especially integrating a swaps router on the exchange’s homepage.

Norby will guide DRiP from within Jupiter, maintaining its brand while aligning its identity with Jupiter. Plans include enhancing the NFT experience within Jupiter’s mobile application.