Jupiter acquires NFT distribution platform, DRiP Haus, betting big on NFTs despite market downturn

DRiP 💧 on X: "JM, Jupiverse 😼 Drip Labs has been acquired by @JupiterExchange. Our mission has been to build a better internet for creators through digital ownership and crypto payments, and we are excited to continue and expand upon our mission as part of Jupiter's family of products. 

Jupiter, Solana’s largest decentralized exchange (DEX), has acquired NFT distribution platform DRiP Haus in an all-cash deal. The move marks Jupiter’s first major step into NFTs as it works to build a broader “Solana super app” that merges DeFi tools with digital culture.

DRiP Haus, known for distributing rather than trading NFTs, will keep its brand and continue to operate independently. Half of its eight-person team will stay focused on DRiP, while the other half integrates NFT capabilities into Jupiter—starting with a swaps router on the DEX’s homepage.

Though financial terms weren’t disclosed, a source familiar with the deal pegged it at around twice DRiP’s previous $11.5M funding. DRiP founder Vibhu Norby will remain involved in a strategic role under the Jupiter umbrella, working on an upgraded NFT experience for Jupiter’s mobile app.

The acquisition signals Jupiter’s confidence in NFTs, even as others like X2Y2 exit the space. “We think NFTs are here for the long term,” said Jupiter’s Kash Dhanda.

Drip Haus is an NFT platform built on the Solana blockchain that enables creators to distribute digital collectibles, such as art and music, to their followers for free.

By leveraging Solana's compressed NFT technology, Drip Haus allows for large-scale and cost-effective distribution of NFTs. Collectors can subscribe to their favorite creators and receive regular digital collectibles at no cost, while also having the option to support artists through a system called "Droplets," which are tokens that can be donated to creators. ​