NFT Software Firm Dust Labs Raises $7M During y00ts Release

Dust Labs, a non-fungible token (NFT) software business, announced a $7 million investment round on Monday amid the uproar surrounding the minting of its y00ts NFT in Solana. We would like to announce that we have raised a strategic round of $7M to build out the $DUST ecosystem. AMA with @frankdegods & our CEO @kevindegods on Thursday, September 8th. pic.twitter.com/VxzdZeu3P0 — Dust Labs (@dust_labs) September 6, 2022 DUST – Utility Token Foundation Capital, Solana Ventures, Metaplex, Jump, FTX Ventures, and Chapter One are the investors in the round. A spokesperson said the investment was a 50/50 split between company equity and its DUST coin. As the official cryptocurrency of the DeGods ecosystem on Solana, DUST is a utility token. DeGods is best known for its infamous eponymous PFP, the world’s most expensive collection of Solana NFT cards. At the NY time 11:30 p.m., DUST was down 30% from its $3 daily high. Tokens bought to be eligible for an NFT release frequently lose value after minting. The business, established by the DeGods NFT collective’s founders, focuses on offering NFT tooling to Solana and Ethereum projects. A “scholarships whitelisting tool” on exhibit at the y00ts mint is the company’s first offering. “Blocker Bug” Delays Highly Anticipated y00ts NFT Mint Earlier, Cryptoknowmics reported that the highly anticipated mint for non-fungible token (NFT) project y00ts has gotten postponed. The DeGods team has had ...