A16z-backed Scene Infrastructure hopes to show crypto is ‘not just money’
The news highlights several developments in the cryptocurrency and blockchain space:
Scene Infrastructure, backed by A16z:
A16z has invested $3 million in Scene Infrastructure, a new entity spun out from the token-gated social DAO Friends With Benefits (FWB).
FWB started as a token-gated Discord channel, evolving into a social DAO with different membership tiers based on FWB tokens. It has celebrity memberships and brand deals.
The new entity, Scene Infrastructure, aims to focus on Web3 applications for both online and real-life communities. It was co-founded by Jose Mejia and Ethan Daya, with ambitions to expand participation in groups like FWB.
Scene plans to work on features related to proof of participation in real-life events and tracking members' attendance. They aim to showcase some of these features at FWB Fest, an event dubbed "crypto Woodstock," in August.
Dwight Howard's "Ballers" NFT Collection:
Former NBA player Dwight Howard launched the "Ballers" NFT collection on the Avalanche blockchain in late January.
The project faced criticism for design quality, causing Ava Labs to distance itself from the collection.
Dwight Howard released a BALL token, stating it would be for utilities down the road. However, after its release, the token's price sharply dropped, and trading essentially stopped. The project's X page was also deleted.
The NFT collection saw 1,440 AVAX of volume on OpenSea, equivalent to around $50,000 at current prices.
These developments reflect the dynamic and sometimes volatile nature of the cryptocurrency and NFT markets, with ventures exploring different facets of blockchain technology, including social DAOs and celebrity-backed NFT projects.
#Web3.0 #NFT #Blockchain #Crypto #Cryptocurrency #AI #Metaverse #OpenSea #AR