The value proposition of NFT marketplaces has been recognized by venture capitalists and other strategic investors alike.
The Alethea AI token sale is being supported by some of the most prominent investors in the blockchain industry.
Protocol for nonfungible tokens with the successful completion of a $16 million private token sale to develop scalable infrastructure for the NFT market, Alethea AI has once again demonstrated that there is a growing demand for digital collectibles.
The Alethea AI token sale, which was co-led by Metapurse and Crypto.com Capital and backed by billionaire investor Mark Cuban, was attended by a number of notable figures. There were over 100 participants, including some of the biggest blockchain venture funds, such as Alameda Research and Multicoin.
Other participants included Galaxy Interactive, Dapper Labs, LD Capital, Gemini Frontier Fund and Borderless Capital, among others. Individual investors included CoinShares’ Meltem Demirors and Dragonfly Capital’s Haseeb Qureshi, as well as others.
According to Alethea AI, the funding will be used to develop a “scalable AI infrastructure for NFTs,” which will allow digital collectibles to have more dynamic characteristics.
The company has been working closely with Open AI to develop the technology that underpins its products and services. If Alethea’s protocol is completed, it will allow NFTs to be transformed into “interactive media assets, complete with personality traits, preferences, and real-time interactive capability.”
After a historic run-up in the first half of the year, the NFT craze appears to be showing no signs of slowing down. The latest craze appears to be focused on Ethereum Pet Rocks, which are selling for record prices on the cryptocurrency exchanges.
According to industry sources, EtherRock #61 was sold for 78 ETH on August 11, which was equal to $250,000 at the time of the transaction. According to reports, the most expensive EtherRock is currently on the market for $1.9 billion.
EtherRock #61 purchased for Ξ78 Ether ($251,092.92)
3 hrs 14 mins ago (Aug-11-2021 05:54:13 AM +UTC)
Txn: https://t.co/eEWVWXEbJQ#EtherRock #EtherRocks pic.twitter.com/tr7RFyFJHV
— EtherRock Price (@etherrockprice) August 11, 2021OpenSea, an NFT platform, announced earlier this month that its gross market volume for the year exceeded $1 billion for the first time. By comparison, the platform generated a gross volume of $24 million in 2020 and $8 million in 2019. Through the first six months of 2021, over $2.5 billion in NFT sales were recorded.
Venture capital firms are also more confident in their support for NFT protocols and platforms. According to Cointelegraph, several major investors, including Pantera Capital, Coinbase Ventures, and Sony, recently backed MakersPlace in a $30 million Series A funding round.
