Recur raises $5 million for perpetual cross-platform NFT royalties
A seed round in a new NFT platform is a promising step towards universal NFT royalties Can a new non-fungible token (NFT) platform finally solve the problem of ecosystem-wide royalties?NFT platform Recur announced on Thursday a $5 million seed round led by the DeFi Alliance, Delphi Digital, Ethereum co-founder Joe Lubin, and Gemini, among others. The raise claims a number of notable superlatives, including the first seed investment in the NFT ecosystem from industry veteran Gary Vaynerch, as well as the largest seed round ever for a NFT project (Dapper Labs has raised many multiples more....
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Last week music startup Revelator raised around $2.5 million by offering a new kind of tracking for music rights and for allowing royalties to be more efficiently distributed to the correct owners. At the heart of their proposed technology is the Blockchain which can be used to effectively record any kind of transaction or event. Similar to other companies, Revelator is finding applications for the Blockchain in other unrelated industries - in this case - music. The drastic efficiency and real-time updating of Blockchain allows Revelator to track the use of digital goods and distribute....
The market for nonfungible tokens, or NFTs, continues to grow, attracting mainstream influencers, leading artists and high-profile investors. NFT company Recur has seen its valuation swell to $333 million after concluding a successful investment round endorsed by billionaire Steve Cohen’s family office. The Series A raised $50 million, mainly through contributions from the Cohen-backed investment platform Digital, according to a statement. Some of Recur’s previous investors include Hashed, Gemini, CMT Digital, JST Capital and Delphi Ventures. The investment will be used to bootstrap the....
While the blockchain network Solana’s native token has skyrocketed in value this week jumping 31.4%, the Solana-based perpetual swap platform Drift Protocol announced it raised $3.8 million from strategic investors. At the same time, Drift announced the launch of its alpha mainnet after several months of “grind, hard work, debugging, building security guardrails.”
Solana Perpetual Swap Exchange Drift Reveals Mainnet Launch, Raises $3.8 Million
While centralized exchanges like Binance, FTX, Bybit, and Bitmex offer crypto-based perpetual swaps, decentralized....
Despite the change to an optional royalties model, Magic Eden will still have full royalties set by default for all collections and listings. Solana-based Magic Eden has become the latest NFT marketplace to shift to an optional royalties model, following in the footsteps of X2Y2 in August, albeit reluctantly. Under the optional royalties model, buyers are given the power to set the royalties they want to contribute to an NFT project, meaning there is a chance that some creators may not receive royalties when their artworks are sold.In an Oct. 14 post, the NFT marketplace noted that the....
A new NFT marketplace is giving a hard pass to optional royalties, bucking the trend, and NFTs are getting a new home on Ripple’s XRPL. NFT marketplace says no to optional royaltiesWhile nonfungible token (NFT) marketplaces such as Ethereum (ETH)-based X2Y2, LooksRare, and Solana (SOL)-based Magic Eden have made the switch over to “optional” creator royalties, a newly launched marketplace is taking a hard stand against it. Find Satoshi Lab, the company behind the popular move-to-earn app StepN has launched its new NFT marketplace named MOOAR on Nov. 1, notably featuring “no optional....