The non-fungible tokens (NFT) platform AlchemyNFT has raised $6 million from investors including billionaire Mark Cuban, Crypto.com Capital, Framework Ventures and Mechanism.
- Funding will be used to add staff and build out the company’s systems, including its AutographNFT.io platform that allows payments for celebrities and artists who wish to sign NFTs and donate the proceeds to charities such as Save the Children.
- Cuban, owner of the Dallas Mavericks National Basketball Association team, has also backed the NFT marketplace Mintable, which raised $13 million in Series A funding earlier this month.
- AlchemyNFT is a project of the team behind crypto wallet AlphaWallet, including CEO Victor Zhang and CTO Weiwu Zhang.
- One of the first participants was Ethereum co-founder Vitalik Buterin, who used his Twitter ID to sign an NFT entitled “The Alchemist” by the artist Mladen Petronijevic on July 24.
- That work was specifically chosen to mark the launch of the project, Victor Zhang, AlchemyNFT's founder, told CoinDesk.
- AutographNFT.io uses Ethereum virtual machine (EVM) smart contracts and TokenScript technology for the NFTs.
- Other investors in the fundraising round included DRF, Fenbushi Capital, Free Company, Hash Global, HashKey, LongHash Ventures, Mask Network, Puzzle Ventures, SevenX Ventures, Huobi Ventures and OKEx Blockdream Ventures.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.