Mark Cuban-backed Alethea AI closes $16M personal token sale
Nonfungible token protocol Alethea AI has closed a $16 million personal token sale to construct scalable infrastructure for the NFT market, highlighting as soon as once more the rising demand for digital collectibles.
Billionaire investor Mark Cuban was among the many backers of the Alethea AI token sale, which was co-led by Metapurse and Crypto.com Capital. Some of blockchain’s largest enterprise funds participated within the sale, together with Alameda Research, Multicoin, Galaxy Interactive, Dapper Labs, LD Capital, Gemini Frontier Fund, Borderless Capital and others. Individual traders included CoinShares’ Meltem Demirors and Haseeb Qureshi of Dragonfly Capital.
The funding will go in the direction of constructing “scalable AI infrastructure for NFTs” that can give digital collectibles extra dynamic traits, Alethea AI stated. The firm has been working intently with Open AI to develop its underlying expertise. Once full, Alethea’s protocol will allow NFTs to turn out to be “interactive media assets, with personality traits, preferences and real-time interactive capability.”
After a historic run-up within the first half of the 12 months, NFT mania is exhibiting little signal of abating. The newest craze seems to be centered round Ethereum Pet Rocks, that are promoting for document quantities. According to business sources, EtherRock #61 bought for 78 ETH on Aug. 11, which was equal to $250,000 on the time. The costliest EtherRock is reportedly going for $1.9 billion.
EtherRock #61 bought for Ξ78 Ether ($251,092.92)
3 hrs 14 minutes in the past (Aug-11-2021 05:54:13 AM +UTC)
— EtherRock Price (@etherrockprice) August 11, 2021
Earlier this month, NFT platform OpenSea introduced that its gross market quantity for the 12 months surpassed $1 billion for the primary time. By comparability, the platform generated $24 million in gross quantity in all of 2020 and $8 million in 2019. As far as NFT gross sales go, greater than $2.5 billion value of transactions have been recorded by the primary six months of 2021.
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Venture funds are additionally backing NFT protocols and platforms with higher conviction. As Cointelegraph reported, a number of main traders together with Pantera, Coinbase Ventures and Sony lately backed a $30 million Series A funding spherical for MakersPlace.