fxhash has raised $5 million in a seed funding round led by 1kx. The funds will be used to expand the team and prepare for a major platform upgrade in the next six months.
Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Generative art platform fxhash raised $5 million of seed funding in a round led by early-stage web3 investment firm 1kx.
Additional participants included Fabric Ventures, Bright Opportunities DAO, Union Square Ventures, the Tezos Foundation, Tane Labs, Daedalus, Everyrealm, PunkDAO, KRPDM, Casey Reas, Thefunnguys, Lemonde2d and Gus Lee.has been entirely self-funded/bootstrapped," fxhash COO Paul Schmidt told The Block."We have scaled the platform to this point solely through revenue from our artist and collector-friendly, industry-low platform fees.
The company intends to use the funding to grow its team, as well as to launch a major platform upgrade in the next six months that integrates Ethereum minting.“We believe that art is just the start for generative media and that we'll see unique 1 of 1 generative designs proliferate through all creative verticals,” pet3rpan, a partner at 1kx, said in a statement.
fxhash is a Tezos-based platform that allows artists to make generative art, or creative work produced using computer code, and sell them as NFTs. © 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nifty News: Trader nabs 800 ETH by baiting a bot, NFT thefts slow and moreAn NFT trader has tricked a bot and walked off $1.5 million richer, NFT volumes in July have nearly halved while $1.7 million worth of NFTs were stolen in the same month and another NFT project is pushing out their own sneakers.
Read more »
FBI Issues Warning on Scam Involving Criminals Impersonating NFT Developers – News Bitcoin NewsThe FBI has issued a Public Service Announcement (PSA) warning users about non-fungible token (NFT) scams involving criminals impersonating developers of renowned projects
Read more »
The Popularity of NFT Profile Pictures: Establishing Ownership and Provenance in the Digital WorldDiscover why NFT profile pictures have become a highly popular feature on social media, allowing individuals to establish ownership and provenance in the digital world. Stay updated with the latest news about bitcoin, ethereum, blockchain, mining, cryptocurrency prices, and more at Cointelegraph.
Read more »
The NFT Market in Need of a TurnaroundNon-fungible tokens (NFTs) are experiencing a market downturn, unlike the positive trend of cryptocurrencies. The Bitwise Blue-Chip NFT Index fund has declined by 28.8% in 2023, while bitcoin has seen a rise of 70%. Enthusiasts suggest that a pivot to gaming and the potential for higher crypto asset prices could be the catalysts needed for a market comeback. Stay informed about Pro Crypto Ecosystems news by securing ACS tokens with The Block.
Read more »
Most stolen NFTs sold in under 3 hours (and mostly on Blur): PeckShieldFewer dollars worth of NFTs were stolen in July than the month prior — continuing a downtrend in line with declining NFT interest.
Read more »