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Mark Cuban-backed Alethea AI closes $16M personal token sale


Nonfungible token protocol Alethea AI has closed a $16 million personal token sale to construct scalable infrastructure for the NFT market, highlighting as soon as once more the rising demand for digital collectibles.

Billionaire investor Mark Cuban was among the many backers of the Alethea AI token sale, which was co-led by Metapurse and Capital. A few of blockchain’s greatest enterprise funds participated within the sale, together with Alameda Analysis, Multicoin, Galaxy Interactive, Dapper Labs, LD Capital, Gemini Frontier Fund, Borderless Capital and others. Particular person traders included CoinShares’ Meltem Demirors and Haseeb Qureshi of Dragonfly Capital.

The funding will go in the direction of constructing “scalable AI infrastructure for NFTs” that can give digital collectibles extra dynamic traits, Alethea AI mentioned. The corporate has been working intently with Open AI to develop its underlying expertise. As soon as full, Alethea’s protocol will allow NFTs to develop into “interactive media property, with character traits, preferences and real-time interactive functionality.”

After a historic run-up within the first half of the yr, NFT mania is displaying little signal of abating. The most recent craze seems to be centered round Ethereum Pet Rocks, that are promoting for document quantities. In accordance with trade sources, EtherRock #61 bought for 78 ETH on Aug. 11, which was equal to $250,000 on the time. The most costly EtherRock is reportedly going for $1.9 billion.

Earlier this month, NFT platform OpenSea introduced that its gross market quantity for the yr surpassed $1 billion for the primary time. By comparability, the platform generated $24 million in gross quantity in all of 2020 and $8 million in 2019. So far as NFT gross sales go, greater than $2.5 billion value of transactions have been recorded by way of the primary six months of 2021.

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Enterprise funds are additionally backing NFT protocols and platforms with better conviction. As Cointelegraph reported, a number of main traders together with Pantera, Coinbase Ventures and Sony not too long ago backed a $30 million Sequence A funding spherical for MakersPlace.