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- According to DappRadar, NFT sales increased by more than $4 billion last month, bringing the total to $21 billion in 2021. Large investment funds, including billionaire internet entrepreneurs like Andreessen, appear to be gaining interested in the industry.
- The $30 million was funded mostly from crypto community builders, creators, and investors to acquire so-called blue-chip NFTs (i.e., those of high value) from high-potential creators and collections, according to Curated.
- Goldberg told Decrypt via Twitter, We aspire to become a top collector of culturally and historically significant goods. We want our on-chain origins to matter in the end. Curated will be useful to designers and builders in addition as collectors, he stated.
Just as the traditional banking sector was getting acclimated to the concept of a crypto fund, it will suddenly have to compete with million-dollar JPEG funds. Curated, a $30 million fund backed by some of the biggest names in the crypto and Web3 investment industry, including Andreessen Horowitz’s Marc Andreessen and Chris Dixon, as well as Reddit and Seven Seven Six Ventures founder Alexis Ohanian, would invest entirely in NFTs.
NFT Sales Increased By More Than $4 Billion Last
NFTs are one-of-a-kind tokens that can be used to prove possession of digital assets. With billions coming into the NFT art world, they’ve become a popular way for digital artists to exhibit their talent and make a profit. According to DappRadar, NFT sales increased by more than $4 billion last month, bringing the total to $21 billion in 2021. Large investment funds, including billionaire internet entrepreneurs like Andreessen, appear to be gaining interest in the industry. Todd Goldberg and Andrew Jiang, co-founders of Curated, announced the fund’s opening on Twitter yesterday.
The fund is intended for high-signal collectors and is long-term focused, according to a Twitter thread from the Curated account. We think we’re still in the early stages! Curated penned the piece. We will patiently wait for the right time to acquire and intend to hold most assets for a long time—at least 5-10 years. Goldberg told Decrypt via Twitter, We aspire to become a top collector of culturally and historically significant goods. We want our on-chain origins to matter in the end. Curated will be useful to designers and builders in addition as collectors, he stated.
$30 Million Was Funded Mostly From Crypto Community
Other projects to which Curated aims to contribute, according to Goldberg, include the development of open-source tools and assisting creators with launch strategy and smart-contract implementation. Smart contracts are programs that run after certain conditions are satisfied, and they’re used to mint and exchange NFTs on networks like Ethereum and Solana. The $30 million was funded mostly from crypto community builders, creators, and investors to acquire so-called blue-chip NFTs (i.e., those of high value) from high-potential creators and collections, according to Curated.
Other VCs interested in Curated include Electric Capital, Pantera, and Lattice Capital, in addition to a16z. Curated lists Shiva Rajaraman, product manager of top Ethereum NFT marketplace OpenSea, as well as co-founders Jack Lu and Zedd Yin of Solana’s largest marketplace Magic Eden, as the builders and producers engaged in the new fund.
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Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
