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1inch Aims for $70M Venture Round

1inch plans to raise $ 70 million in Series B.1inch has plans to sell tokens for $ 1.50, but it still has not been approved. Tokens for this round will have a blocking period with linear vesting, as in previous rounds.

The engagement project is in the early stages of this round. They plan to complete it by the end of 2021. In an email, Sergey Maslennikov, 1inch Network's chief communications officer, said the company would use the money to expand its developer and marketing teams as it "aims to release two more protocols".

Maslennikov also said that 1inch was looking to onboard the next 10 million users in DeFi with its 1inch wallet app. As a reminder, 1inch expanded to the Optimistic Ethereum mainnet this month, which will help increase transaction speed and lower gas fees for users.

 

Paradigm Leads $8M Series A into Euler Project

 

Euler Landing Protocol raised $8 million in Series A. The lead investor in the seed round, Lemniscap, also joined the Series A, along with Ethhub co-founder Anthony Sassano, Mythos Capital founder Ryan Sean Adams, Bankless co-founder David Hoffman, Synthetix founder Kain Warwick. Euler's founder won the Encode hackathon last September and then took part in the Encode Club incubation. It's a landing page protocol like Aave and Compound, but the difference is that Euler allows anyone to create their own lending markets. It means that anyone can add tokens that can be borrowed/lent on Euler, just like anyone can create a trading pair on Uniswap. According to the official document, anyone who has a WETH trading pair in Uniswap v3 can quickly add it to Euler. Lately, Paradigm has been putting a lot of effort into MEV itself and its research to finally solve this problem. The project starts after a security audit. Governance EUL token has been distributed to the protocol's lenders and borrowers since the launch. 

 

3LAU Raises $16 Million to Tokenize Music Royalties

A famous American DJ 3LAU has announced the creation of a music investments platform called ROYAL. Paradigm Founders and Peter Thiel Foundation invest $7 million each. Co-founder JD Ross pitched in $1 million through his venture capital fund, Atomic, and a handful of angel investors contributed the final $1 million. Royal specifies the copyright of songs so that everyone can buy and sell them. Eventually, music lovers will receive a part of the song royalties, which could terminate traditional recording contracts.

About the project

An NFT project called Limited Digital Asset (LDA) developed by Royal will be used. This is a kind of tokenization of songs, where users can get benefits such as concert tickets, various passes, merch, etc. It is not only an investment in songs but also partial ownership of the copyright of the songs. This means that as the popularity of the artist's music grows, fans (investors) will be able to earn royalties along with the artist. 

How it works?

At the time of publication, an artist decides how much of his or her royalty share to reserve for LDA-holding fans and how many "official editions" to mint for a given song. For example, if an artist wants to receive 50% of the royalties and 100 official versions of a song are released, the NFT owner can receive the remaining 50%. After 100 copies have been released, each owner will receive 0.5% of the song royalty. This mechanism provides the opportunity to push the boundaries, and the creators can contact their fans directly, without any intermediaries or labels. Fans, in turn, will be able to invest in their favorite artists.

Roadmap

A limited-access beta platform will be developed within 6 months. It will be open to the public for 8-12 months to make the project community-driven. Perhaps this will be a beginning for the launch of in-system tokens.

 

DAO and Union Square Ventures

Leading venture capital firm Union Square Ventures (USV) announced their investment in Bright Moments DAO. "We invested 500 ETH (about $ 1.5 million) and got back 1 million BRT tokens. "This is the third USV case where they invest in DAO. The other two will be presented later. In fact, this is an important event representing the future trend of venture investing in DAOs, and thus this trend is being formed. There is a possibility that the number of projects will increase by receiving small investments from the NFT community, followed by an influx of venture capital. In fact, transactions are not recorded except for ongoing token transactions. And this is a kind of nonsense. We will likely see such cases more and more often.

Bright Moments is a project that brings NFT artwork to the real world. NFT artists present their new works, and completists buy them in real-time.To be honest, it is not entirely clear how USV is going to make money by holding BRT tokens. Most likely, they expect active community and monetization for the release of new products.This new model allows people who are not into crypto to carry out transactions with art treasures.

 

Mark Cuban-backed project, Alethea, closed the round with $16 million

Alethea is a combination of NFT with artificial intelligence technology(AI). Investors include Multicoin, Alameda and Dapper Labs. The creators incorporate AI Alethea into the NFT to enable real-time interaction. For example, AI-powered CryptoPunks can hold rap battles with real people. In a video posted on Twitter, the NFT42 founder, Jimmy, has a conversation in real-time with an NFT called "Pandora":

https://twitter.com/j1mmyeth/status/1425909585790054401 

 

VISA bought CryptoPunks NFT for $15 million

 

Why VISA needs this:

  • NFTs will play an essential role in the future of retail, social media, entertainment and commerce;
  • Visa's primary role is to make an NFT purchase easier for consumers and make merchants accept them as easily as traditional goods and e-commerce.

It looks like VISA acquired Anchorage Digital as a means of payment to store the NFT. Following the news about Visa, the price of CryptoPunks rose sharply, which made the NFT market even more active. Also, a beer brand Budweiser inspired by Visa bought a rocket ship designed by NFT artist Tom Sachs for 8 ETH and used it as a Twitter profile picture. They paid 30 ETH for the Beer.eth domain name.

 

Apricot Finance raises $4 million

Apricot Finance is a Solana Landing Protocol that has raised $4M from investors such as Delphi Ventures, Lemniscap, Solana Capital, Advanced Blockchain AG, Skyvision Capital, Ledger Prime, Valhalla Capital, MXC, Gate, a41 Ventures. The launch of the testnet is scheduled next week and of the mainnet in September. The latest round of funding follows the $ 800K funding received by Apricot Finance in June. Apricot Finance said it intends to use the funds to support the expansion of its flagship services.

 

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2TOP Money

1inch Aims for $70M Venture Round

1inch plans to raise $ 70 million in Series B.1inch has plans to sell tokens for $ 1.50, but it still has not been approved. Tokens for this round will have a blocking period with linear vesting, as in previous rounds.

The engagement project is in the early stages of this round. They plan to complete it by the end of 2021. In an email, Sergey Maslennikov, 1inch Network's chief communications officer, said the company would use the money to expand its developer and marketing teams as it "aims to release two more protocols".

Maslennikov also said that 1inch was looking to onboard the next 10 million users in DeFi with its 1inch wallet app. As a reminder, 1inch expanded to the Optimistic Ethereum mainnet this month, which will help increase transaction speed and lower gas fees for users.

 

Paradigm Leads $8M Series A into Euler Project

 

Euler Landing Protocol raised $8 million in Series A. The lead investor in the seed round, Lemniscap, also joined the Series A, along with Ethhub co-founder Anthony Sassano, Mythos Capital founder Ryan Sean Adams, Bankless co-founder David Hoffman, Synthetix founder Kain Warwick. Euler's founder won the Encode hackathon last September and then took part in the Encode Club incubation. It's a landing page protocol like Aave and Compound, but the difference is that Euler allows anyone to create their own lending markets. It means that anyone can add tokens that can be borrowed/lent on Euler, just like anyone can create a trading pair on Uniswap. According to the official document, anyone who has a WETH trading pair in Uniswap v3 can quickly add it to Euler. Lately, Paradigm has been putting a lot of effort into MEV itself and its research to finally solve this problem. The project starts after a security audit. Governance EUL token has been distributed to the protocol's lenders and borrowers since the launch. 

 

3LAU Raises $16 Million to Tokenize Music Royalties

A famous American DJ 3LAU has announced the creation of a music investments platform called ROYAL. Paradigm Founders and Peter Thiel Foundation invest $7 million each. Co-founder JD Ross pitched in $1 million through his venture capital fund, Atomic, and a handful of angel investors contributed the final $1 million. Royal specifies the copyright of songs so that everyone can buy and sell them. Eventually, music lovers will receive a part of the song royalties, which could terminate traditional recording contracts.

About the project

An NFT project called Limited Digital Asset (LDA) developed by Royal will be used. This is a kind of tokenization of songs, where users can get benefits such as concert tickets, various passes, merch, etc. It is not only an investment in songs but also partial ownership of the copyright of the songs. This means that as the popularity of the artist's music grows, fans (investors) will be able to earn royalties along with the artist. 

How it works?

At the time of publication, an artist decides how much of his or her royalty share to reserve for LDA-holding fans and how many "official editions" to mint for a given song. For example, if an artist wants to receive 50% of the royalties and 100 official versions of a song are released, the NFT owner can receive the remaining 50%. After 100 copies have been released, each owner will receive 0.5% of the song royalty. This mechanism provides the opportunity to push the boundaries, and the creators can contact their fans directly, without any intermediaries or labels. Fans, in turn, will be able to invest in their favorite artists.

Roadmap

A limited-access beta platform will be developed within 6 months. It will be open to the public for 8-12 months to make the project community-driven. Perhaps this will be a beginning for the launch of in-system tokens.

 

DAO and Union Square Ventures

Leading venture capital firm Union Square Ventures (USV) announced their investment in Bright Moments DAO. "We invested 500 ETH (about $ 1.5 million) and got back 1 million BRT tokens. "This is the third USV case where they invest in DAO. The other two will be presented later. In fact, this is an important event representing the future trend of venture investing in DAOs, and thus this trend is being formed. There is a possibility that the number of projects will increase by receiving small investments from the NFT community, followed by an influx of venture capital. In fact, transactions are not recorded except for ongoing token transactions. And this is a kind of nonsense. We will likely see such cases more and more often.

Bright Moments is a project that brings NFT artwork to the real world. NFT artists present their new works, and completists buy them in real-time.To be honest, it is not entirely clear how USV is going to make money by holding BRT tokens. Most likely, they expect active community and monetization for the release of new products.This new model allows people who are not into crypto to carry out transactions with art treasures.

 

Mark Cuban-backed project, Alethea, closed the round with $16 million

Alethea is a combination of NFT with artificial intelligence technology(AI). Investors include Multicoin, Alameda and Dapper Labs. The creators incorporate AI Alethea into the NFT to enable real-time interaction. For example, AI-powered CryptoPunks can hold rap battles with real people. In a video posted on Twitter, the NFT42 founder, Jimmy, has a conversation in real-time with an NFT called "Pandora":

https://twitter.com/j1mmyeth/status/1425909585790054401 

 

VISA bought CryptoPunks NFT for $15 million

 

Why VISA needs this:

  • NFTs will play an essential role in the future of retail, social media, entertainment and commerce;
  • Visa's primary role is to make an NFT purchase easier for consumers and make merchants accept them as easily as traditional goods and e-commerce.

It looks like VISA acquired Anchorage Digital as a means of payment to store the NFT. Following the news about Visa, the price of CryptoPunks rose sharply, which made the NFT market even more active. Also, a beer brand Budweiser inspired by Visa bought a rocket ship designed by NFT artist Tom Sachs for 8 ETH and used it as a Twitter profile picture. They paid 30 ETH for the Beer.eth domain name.

 

Apricot Finance raises $4 million

Apricot Finance is a Solana Landing Protocol that has raised $4M from investors such as Delphi Ventures, Lemniscap, Solana Capital, Advanced Blockchain AG, Skyvision Capital, Ledger Prime, Valhalla Capital, MXC, Gate, a41 Ventures. The launch of the testnet is scheduled next week and of the mainnet in September. The latest round of funding follows the $ 800K funding received by Apricot Finance in June. Apricot Finance said it intends to use the funds to support the expansion of its flagship services.

 

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