Dust Labs, a company developing software that assists Non-Fungible Token (NFT) communities bring more excellent value to their holders, has put out the word that it had raised around 7 Million US Dollars in a fundraising round. It has been disclosed at the time of the commotion over its Solana Blockchain-based y00ts Non-Fungible Token (NFT) minting.
California-based Venture Capital (VC) financing company Foundation Capital, Metaplex, investment firm Solana Ventures, Washington-based Venture Capital (VC) and private equity firm Unlock Venture Partners, Hello Moon, Jump, Magic Eden, Jupiter, Hyperspace, Investment firm Big Brain Holdings, Software development firm Mysten Labs, Cymbal, investment firm FTX Ventures, and Venture Capital (VC) and private equity firm Chapter One are the investors in the fundraising round. A spokesperson said that the investment had been divided fifty-fifty between business ownership and its DUST coin.
Being the official cryptocurrency of the DeGods ecosystem on the Solana blockchain, DUST is a utility token. DeGods is well-known for its admired and highly famous Profile Pictures (PFP), which are the most expensive collection in Solana’s Non-Fungible Token (NFT) market.
As traders processed the information at 11:30 p.m. in New York (NY), USA, DUST had been down by 30% from its everyday high, around 3 US Dollars. Tokens bought to be eligible for a Non-Fungible Token (NFT) release frequently lose value after minting.
The DeGods Non-Fungible Token (NFT) collective’s founders founded the business enterprise and focused on offering NFT tooling to Solana and Ethereum projects. Its initial offering is a whitelisting tool for scholarships that it demonstrated at the time of the Y00ts mint.
The DeGods team has been through a hectic week, holding up the release for its popular y00ts project due to an unexpected Blocker Bug. Dust Labs said it will have an AMA, or Ask Me Anything, to give additional details on Thursday.