Decentralized exchange Jupiter, the leading DeFi platform on Solana, has acquired NFT platform DRiP Haus. The deal is part of Jupiter’s strategy to become a Solana-based “super app” catering not only to traders but also to digital culture enthusiasts.
The acquisition comes at a time of declining interest in NFTs. However, Jupiter co-founder Kash Dhanda expressed confidence in the long-term potential of the digital collectibles space, stating the company does not share the prevailing pessimism around NFTs.
DRiP Haus: surviving the NFT market crash
DRiP Haus emerged following the closure of the Solana Store and quickly adapted to new market conditions. Unlike traditional NFT marketplaces, DRiP focuses on distribution rather than trading. The platform gained popularity among Solana-based project creators who use DRiP to deliver large-scale NFT campaigns.
According to Dhanda, DRiP is responsible for generating most of the high-quality, non-spam Solana NFTs. The DRiP team declined to disclose the acquisition amount, but a source familiar with the matter said the buyout was double the amount of investment previously raised. DRiP had secured $11 million in venture funding before the acquisition.
Post-acquisition changes
Some DRiP employees will continue working on the current platform, while others will shift to integrating NFT functionality within the Jupiter ecosystem. A key priority is developing an NFT swap router that will be embedded into Jupiter’s main DeFi interface.
DRiP Labs head Vibhu Norby will retain his leadership role, now operating within Jupiter’s structure. The DRiP brand will remain independent, although its visual identity will be updated to align with Jupiter’s branding.
The DRiP team will also receive compensation in JUP tokens from Jupiter’s incentive pool, which was previously announced by co-founder Meow as part of a rewards migration plan.
Second wave of NFTs on Solana
The acquisition of DRiP Haus could signal a revival of NFT activity on the Solana network, despite an overall slowdown in the sector. Jupiter aims to deliver a “great NFT experience” through its mobile app and expand its presence in the digital art space.
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