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Nft vc 100m

Accelerators supporting startups that focus on or utilize non-fungible tokens, here described as NFT startups, include both newly established Web 3 accelerators as well as historical players in the accelerator space. In addition, many of these accelerators are associated with venture funds that have invested in NFT startups.

Accelerators are a well-developed funding and development approach allowing venture capitalists and seed investors to be heavily involved in a startup’s early stages with the hope of outsize profit-taking at a later date. Most of the accelerators designed for or including NFT-related startups appear to be mostly the same old system with some adjustments related to Web 3.


FanCraze, an online platform for trading officially-licensed digital cricket collectibles, is raising roughly $100 million in new funding with investors that include soccer star Cristiano Ronaldo, according to Bloomberg.

Led by VC firms Insight Partners and B Capital Group, the Series A round is expected to be completed in the coming weeks and could see its size change as deliberations continue.

Previously known as Faze Technologies, the platform has also attracted Mirae Asset Financial Group, a South Korea-based financial services company, as a potential investor.

FanCraze is in its early stages but has solidified its footprint in the $44 billion NFT market.

Pantera Capital

Considered to be among the blue-chip VCs in the crypto ecosystem, Pantera boasts the unique claim-to-fame of creating the first blockchain venture and hedge funds in the US with the firm’s 2013 Pantera Venture Fund I and Pantera Bitcoin Fund. The firm’s track record is difficult to match, having led 50% of 145 investments since inception and realizing USD$82M on USD$18M deployed into its portfolio companies.
Pantera has launched a series of venture funds since its first in 2013, with Pantera Venture Fund II in 2014 and Pantera Venture Fund III in 2018.

Pantera’s 3 venture funds have increased in size as the firm proved its investing acumen, with the first fund amounting to USD$12M and the third amounting to USD$175M. The firm’s vision for each fund also seemed to progressively increase in scope and ambition.

Nft vc 100ma

For example, some accelerators specify up front that if one releases a token, they want a percentage of that as well as equity in one’s company.

That said, sometimes established methods work well regardless of one’s favored programming language, technological paradigm or ideological perspective.

NFT Startup Accelerators

This brief guide, organized by upcoming deadline date, focuses on accelerators with a history of accepting NFT startups. However, many accelerators in the crypto or blockchain space are worth contacting since they would have domain expertise.

As the inclusion of some of the most well-established accelerators indicates, there may also soon be interest from funding sources without a history of funding Web 3 startups.

Nft vc 100mah

That is based on the assumption that one purchased a piece with common traits in the BAYC collectible of 10,000 variations (10K).

A common piece is one that is not highly ranked in rarity and also at the floor price, which as of mid-October 2021 is at 37.75 ETH. Since the cost on the release date was 0.08 ETH, if one has held on to the piece until now, the return would be over 460x.
And better yet, if one initially got a piece of Cryptopunks for free in 2018, and it has the trait “Alien,” the return would be 420K fold (even assuming the cost was 0.01 ETH instead of being free).

Certainly, that is a very isolated case and an outlier. It’s probably hard to replicate many wins like that, or even at half or 1/10th of that ROI.

Nft vc 100mb

NFT marketplace Windvane are putting out $100 million as a “Creators Fund” to support and incubate early-stage NFT projects, according to a media release issued by KuCoin.

The announcement came after Coinbase’s earlier statement of launching its NFT marketplace soon and the Japanese social media giant Line releasing such a product called Line NFT. As the industry attracts investments from financial institutions, major crypto exchanges have all doubled down on their marketplaces to acquire a more significant share of the quickly growing NFT market.

  • The $100M fund will be allocated to incubate fledging NFT projects from various fields, including art, sports, GameFi, celebrities, and many more.
  • This project will invite 99 NFT creators to join the Windvane NFT marketplace to accelerate the growth of Web 3.0, the release stated.

NFTs as their profile pictures.

The trend started in January of 2022 when Twitter announced users could swap their headshot for an NFT.

Shortly after, Meta Platforms Inc. (which owns Facebook and Instagram) announced they too would allow NFTs as profile pics.

Interest in using NFTs as Profile Pictures

What makes this trend interesting is how these companies are using technology to verify ownership of an image.

Admittedly, anyone with a computer can “right-click save” an NFT, pretend it’s theirs, and upload it to their social media profile.

To combat this, social media companies will use some kind of badge or profile outline to differentiate between profile pics that have been uploaded and NFTs that have been verified inside the user’s cryptocurrency wallet.

7.

OpenSea is aiming to make a move toward long-term scalability by announcing that they plan to bring support for several more blockchains to its platform.

They’re starting with Polygon, a popular Layer 2 Ethereum blockchain that boasts a more energy-efficient structure that will allow OpenSea to entirely eliminate gas fees for creators, buyers and sellers on that blockchain. Losing these fees may give OpenSea a better shot at expanding its ambitions, which include finding a future for NFTs in the gaming world and in the events space, Finzer says.

Beyond Polygon, OpenSea has plans to integrate with Dapper Labs’ Flow blockchain, as well as Tezos down the road, the company says.

Operating across multiple blockchains could create some headaches for consumers operating across platforms with differing levels of support for each network.

NFTs, or non-fungible tokens, are unique digital items that exist on the blockchain and represent different types of files like audio, art, video and more.

OpenSea plans to use its new influx of funding to scale its NFT marketplace by hiring more engineers as well as expanding to new markets and audiences on a global scale.

While NFT activity experienced a slight decline since the boom earlier this year, trading volumes and weekly sales have picked back up.

OpenSea too has certainly continued to grow. In June 2021 alone, the platform sold $160 million in digital assets on its marketplace and experienced a 45% increase in volume growth in the first half of 2021.

And an NFT digital collage by the artist Beeple sold at Christie’s for $69.3 million. Gaming has a couple of new unicorns, or startups valued at $1 billion, in Animoca Brands and Forte.

NFTs are now selling at a rate of $62 million a week, though the initial hype around NFTs is dying down from a peak in May of $175 million a week, according to Nonfungible.com.

Polygon, which started in 2019, is being used by more than 90 decentralized apps (DApps) and it has had more than seven million transactions and 200,000 users.

“We don’t want to be a VC. This is not our strength,” said Shreyansh Singh, the head of gaming and NFTs at Polygon, in an interview with GamesBeat.

“We will incubate some products and teams that want to build projects. Maybe we can get them an external license and support them. We are here to support the entire ecosystem.

After all, Steinwold already had a storied history in the crypto space, from a poorly timed bitcoin bet as a junior in college, to unsuccessfully cold-calling blockchain tech experts when he was 21 to try to get them involved in his own blockchain business ideas.

“Bought bitcoin at around $200 and then it went up to $1,000,” Steinwold said. “For like, a two-week period, I was like, ‘I am the next Warren Buffett, I’m so smart,’ and then it pops … it popped right back down to $200, I sold that right at my entry. So I ended up making no money, and the whole experience shocked me.”

But still bitten by the blockchain bug, a nudge from his wife resulted in his crypto investing fortunes turning around when he looked at the nascent asset class of non-fungible tokens (NFTs).

“I felt like my skillset was massively different and proven from previous times,” Steinwold said.

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