BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
FOLLOW
BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
BlockNews.com
No Result
View All Result

Dust Labs Raised $7m In Seed Funding Round

BlockNews Team by BlockNews Team
September 24, 2022
in Crypto, DeFi, Guides, Investing
Dust-Logo
Share on TwitterShare on Reddit

The announcement of the raised seed came amid the high profile and long anticipated minting that has shifted the wind in the Solana NFT community.

The NFT software company Dust Lab has successfully raised a seed fund of 7 million dollars, which was announced during the pandemonium raised for its Solana-based yoots NFT minting on Monday.

The round participants were companies like Foundation capital, Metaplex, Solana Ventures, Jump, FTX Ventures, and Chapter One. The investment was a half-and-half split in the community equity and its $DUST token.

$Dust is a utility token on the Solana network, dubbed as the official currency of the DeGods ecosystem. DeGods is well known for the popular eponymous PFP, the highest valued collection known in the Solana NFT world.

Yoots has been on a high start since its recent launch. It topped secondary markets as the NFTs sell for a significant premium over the mint hype.

Dust lab which is a tech startup that is linked to both the yoots and DeGods NFT projects. The Dust lab’s utility token was initially launched as a reward for owners of DeGods NFTs. Magic Eden can also accept the tokens as it will integrate Solana-based tokens from various NFT projects.

The Yoots NFTs were released with a total supply of 15,000 Solana-based collectibles. They were available to purchase by DeGods holders and the ones accepted to an exclusive whitelist in recent weeks.

Every NFT from the mint is called a tOOb, and it could be burnt or permanently terminated in exchange for the actual yOOts NFT.

According to data released by the NFT marketplace aggregator Hyperspace, which is also a Dust Labs investor, YOOts has generated a worth of more than $6 million in secondary sales. The market price or cost of the cheapest available NFT lifted on the marketplace is 139 SOL. 96% of secondary sales have gone on Magic Eden.

YOOts’ original launch was scheduled for September 2; however, it was delayed following the recent hitches and temporary ban of the DeGods and yOOts accounts on the Twitter platform, plus the blocker bug, before its original deployment time.

The issues the launch faced during its mint were supposedly tied to the project’s tech and not a fault of Solana’s network, which had met a crash before its recent upgrade and during high-profile NFT launches.

Earlier this week, YOOts supplanted the Ethereum Name Service as the top-selling NFT project across several secondary markets, regarding data from OpenSea, the leading marketplace across all the other blockchain networks. YOOts got to the top of the list as a top-selling NFT project.

An NFT (Non-Fungible token) is a property that can represent ownership of an item, including digital goods like PFPs, artworks, collectibles, and even video games.

Solana comes only after Ethereum as the second-largest NFT marketplace.

Conclusion

The era of YOOts will be fascinating to watch with how much they were able to raise.

Tags: BlockchaincryptoWeb3
TweetShareShare
BlockNews Team

BlockNews Team

DON'T MISS THESE! HOT OFF THE PRESS

US Space Force Major Jason Lowery Highlights Bitcoin as Potential Cybersecurity Asset
Crypto

US Space Force Major Jason Lowery Highlights Bitcoin as Potential Cybersecurity Asset

December 4, 2023
Bitcoin Hits $40,000, Marking a 19-Month High Amid Optimistic Forecasts
Breaking News

Bitcoin Hits $40,000, Marking a 19-Month High Amid Optimistic Forecasts

December 4, 2023
Coinbase Gains Market Share as Binance Faces US Legal Hurdles
Business

Coinbase Gains Market Share as Binance Faces US Legal Hurdles

December 3, 2023
Swan Bitcoin CEO Sees Bitcoin ETFs Quieting Down Crypto Marketing Noise
Breaking News

Swan Bitcoin CEO Sees Bitcoin ETFs Quieting Down Crypto Marketing Noise

December 3, 2023
Ethereum Developer Encounters Apathy from Alma Mater on Crypto Collaboration
Crypto

Ethereum Developer Encounters Apathy from Alma Mater on Crypto Collaboration

December 3, 2023
Bitcoin and Ethereum Hit New Yearly Highs and Here is Why
Breaking News

Bitcoin and Ethereum Hit New Yearly Highs and Here is Why

December 2, 2023
Load More
Next Post
NFT

The Return of NFT Meta: Focusing on NFT Projects with Insane Volume in September

WinterMute-Logo

The Vulnerability of Blockchain at Play: Major Crypto Trading Firm, Wintermute Report Loss of $160M in Hacking Incident

SparkSter Logo

Sparkster to Pay $35 Million to Harmed Investor Fund for Unregistered Crypto Asset Offering

Related News

Crypto Hedge Fund Three Arrows Capital Forced to Liquidate

Crypto Hedge Fund Three Arrows Capital Forced to Liquidate

June 30, 2022
Vitalik Buterin

Vitalik Buterin Sends $227k To Turkey Help Earthquake Victims

February 14, 2023
Tether Binance

Tether Seizes $873k in Assets Linked to Terrorism Financing: Proactive Measures Against Illicit Use

October 16, 2023

Browse by Category

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Featured
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized
Discord Twitter
BlockNews.com

BlockNews.com brings you the most important Crypto and NFT news in the space.

CATEGORIES

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Featured
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized

RECENT POSTS

  • US Space Force Major Jason Lowery Highlights Bitcoin as Potential Cybersecurity Asset December 4, 2023
  • Bitcoin Hits $40,000, Marking a 19-Month High Amid Optimistic Forecasts December 4, 2023
  • Coinbase Gains Market Share as Binance Faces US Legal Hurdles December 3, 2023

© 2022-2023 BlockNews.com - Crypto and NFT news website by JRNY Club.

No Result
View All Result
  • Home
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides

© 2022-2023 BlockNews.com - Crypto and NFT news website by JRNY Club.