Cryptocurrencies

AlchemyNFT Raises $6M for Autographed NFTs, With Mark Cuban as Participant

Vitalik Buterin attends a recording of Laura Shin's Unchained Podcast. (Credit: Christine Kim for CoinDesk)

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.

Read more: Shopify to Allow Merchants to Sell NFTs Directly Through Their Stores

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