Mark Cuban has left his mark on yet another non-fungible token (NFT) platform with his recent investment in AlchemyNFT. Cuban, and others, helped AlchemyNFT raise $6 million to further develop its Remix Platform to autograph NFTs.
According to a blog written by Victor Zhang, founder of AlchemyNFT, investors in the funding included Crypto.com Capital, Digital Renaissance Fund, Fenbushi Capital, Framework Ventures, Free Company, Hash Global, HashKey, Huobi Ventures, LongHash Ventures, Mask Network, Mechanism Capital, OKEx Blockdream Ventures, Puzzle Ventures, and SevenX Ventures.
Current and future projects at AlchemyNFT
AlchemyNFT is a service that was created to allow users to add custom touches to NFTs they own. The idea is to add digital signatures or other ‘remixes’ to your NFT collection, bundling collections and teaming with artists. The first product introduced by AlchemyNFT was AutographNFT. The platform allowed people to digitally autograph NFTs using social media IDs. Celebrities signed on and could be sent offers via Twitter and, if accepted, would use their Twitter ID to digitally sign the NFT in question.
When the signing is done, the original NFT is locked in a smart contract and mints a new, identical NFT containing the desired digital signature. A portion of all payments accepted by celebrities will go to fund Save the Children among other charitable organizations.
According to Zhang, “Remix NFTs are a game-changer and AlchemyNFT is proud to provide the platform to empower NFT users and developers to do whatever they can imagine, whether it is owners adding music or autographs to their NFTs or marketplaces where musicians reward supporters with redeemable rights. It brings in a new layer of Liquidity and Utility.” Zhang goes on to say that the $6 million raised will allow the company to grow not only the platform, but also the AlchemyNFT team. “I look forward to more talents joining our startup journey.”
In a separate blog, Zhang laid out the idea using a real-world example. Zhang says that a CryptoPunk NFT could be combined with art from Beeple or a CryptoKitty work could be combined with a single Bitcoin and an NFT for a piece of music. “Each of these non-fungible tokens can also be signed by their creators or anyone the NFT owner prefers, giving the NFT even more value.” Zhang concludes by stating his belief that NFTs will “create a resilient, secure economy that is based on strong, flexible technology.”
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