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The Rolling Stones lead singer Mick Jagger is jumping into the nonfungible token craze to help independent music venues that have been adversely affected by the pandemic.
In an announcement from the music legend on Thursday, Jagger said he had started a 24-hour auction on Nifty Gateway featuring a nonfungible token, or NFT, based on a new song with Foo Fighters frontman Dave Grohl. The digital piece designed by artist Oliver Latta, also known as Extraweg, features a loop of a figure running through two human heads, with Grohl and Jagger’s “Eazy Sleazy” song playing in the background.
“The 30-second audio visual piece evokes a surreal essence of breaking through the barriers of the human mind and pushing forward on the brink of social collapse to provide a much needed moment of artistic relief as the world slowly transitions out of lockdown,” said the announcement.
There’s a 24hr charity auction on @niftygateway at 6pm BST today for a piece of Eazy Sleazy digital art, created by 3D artist @extraweg – proceeds from this will be going to a few charities picked by myself and Dave Grohl @foofighters – find out more at https://t.co/fmNxlrVjcD pic.twitter.com/CoZEukn5cb
— Mick Jagger (@MickJagger) April 15, 2021
According to the NFT’s description on Nifty, the proceeds from the auction will help raise money for independent music venues in the United States and the United Kingdom through local charity groups Music Venue Trust and the National Independent Venue Association. A portion of the proceeds will also go to environmental causes. At the time of publication, the highest bid is for $8,988, with 12 people having made an offer for the NFT.
Many musical artists have become involved in NFTs in the past year. Last month, Crypto.com announced it would be launching an NFT platform featuring work from Snoop Dogg, Boy George, Lionel Richie and others. Major institutions have also been using NFTs to raise money for charity — New York Times columnist Kevin Roose auctioned off one of his articles for more than $550,000, which was donated to the publication’s The Neediest Cases Fund.
Image Credit: Refer to Source
Author: Refer to Source Cointelegraph By Turner Wright
A fast riser in the decentralized finance (DeFi) world has announced a $4.9 million raise today led by major industry venture capital groups — as well as some unusual, upstart players.
Alchemix, a DeFi lending protocol whose loans automatically repay themselves via deposits into other yield-bearing protocols, announced on Discord today a $4.9 million raise led by ten investors including industry mainstays CMS Holdings and Alameda Research, as well as upstart crypto VC players such as eGirl Capital.
Rounding out the investors are Immutable Capital, Nascent, Protoscale Capital, LedgerPrime, Fisher8 Capital, Orthogonal Trading, and one unidentified “individual.”
Exiting news! The Alchemix team has successfully raised funds with amazing and exciting partners. Read the discord announcement here or in this exceedingly large screenshot.https://t.co/iKov18CZBS pic.twitter.com/fB2REerYmr
— Alchemix (@AlchemixFi) March 13, 2021
“Alchemix aims to be one of the key money legos in the Ethereum ecosystem. It is the culmination of countless innovators and one great idea and a lot of hard work from our team,” said Scoopy Trooples, team lead at Alchemix. “[…] We are excited to have the backing of a plethora of reputable investment firms. With their support we can charge ahead full time and make Alchemix even better.”
Unlike with many recent VC investments into DeFi protocols, the Alchemix team put forth some effort to disclose the terms of the round. Per their Discord post, the team sold tokens from their team treasury allocation at roughly $700 per ALCX, with prices ranging from $680-$800 according to the trading range of the token on the day of the sale, March 11th.
The post said that the sale provides the equivalent of a one year runway for the team, and specified that there is now a yearlong lockup on the team selling any further allocated tokens as well as a three month lockup on the new investors selling theirs. The newly-raised funds will be used for audits, contractors, hiring, marketing, and community efforts.
Alchemix is part of a movement that has been referred to as the “Gen 2” of DeFi — a group of projects building on previous protocols that are currently outperforming the wider market.
CL, a partner at e-Girl Capital, spoke glowingly about the potential of the project.
“Personally I think the team is extreme capable, very bullish on the project as record amounts of stablecoins continue to be printed daily and flow into DeFi protocols, and the idea of immediately being able to spend future yield is very powerful,” they said.
The investment bolsters a growing trend of traditional legal entities and VCs participating in fundraising rounds alongside newer, perhaps atypical investment bodies. However, as the tooling for DAOs and treasury management smart contracts grow more sophisticated, anonymous individuals and entities may be making their way onto more press releases.
Image Credit: Refer to Source
Author: Refer to Source Cointelegraph By Andrew Thurman
LYNN, Mass., March 02, 2021 (GLOBE NEWSWIRE) — CoinMover, a U.S.-based Bitcoin ATM kiosk company, for the first time, is working to secure outside funds to accelerate the expansion of its kiosk locations.
With profitable operations in three states today, CoinMover is ready to scale its model nationwide. Having leveraged some existing partnerships they’re poised to do this rapidly across 49 of 50 states.
“CoinMover hopes to raise $5 million from outside investors this Spring. We’re excited about how this will help us grow in 2021,” said Co-Founder and CEO, Jim Murray.
With the global market capitalization of digital currency set to reach into the trillions of dollars this year, demand for CoinMover’s services has seen month-over-month double-digit growth.
“Since expanding our footprint in 2020, CoinMover’s 82% growth during a global pandemic, combined with a 5x revenue increase to $12.5 million is a testament to the future potential of the cryptocurrency market,” said Mike Scanlan, Co-Founder and Chief Technology Officer.
To learn more about CoinMover’s capital raise and to view the updated business plan, please contact invest@coinmover.com.
For media inquiries, please contact Raquel Heras.
About CoinMover
CoinMover was founded in 2018 in Lynn, MA. Its platform enables customers to exchange traditional cash for digital currency at any of its kiosks in highly accessible retail locations. CoinMover’s kiosk can exchange cash for any of the top four digital currencies: Bitcoin, Ethereum, Litecoin, and Dash.
Media Contact: Raquel Heras
Raquel@nisonco.com
315-235-9673
The Synthetix DAO has added some new, perhaps surprising voices to its governance.
Today the synthetic asset protocol announced a $12 million dollar fundraise led by venture capital firms Paradigm, Coinbase Ventures, and IOSG. The funds purchased SNX tokens directly from the DAO treasury, and “will contribute where possible by providing liquidity in the form of SNX collateral, and also participate in its rapidly evolving community governance system,” the announcement reads.
“We’re excited about supporting the synthetixDAO as it builds the leading synthetic asset platform,” said Paradigm investment partner Arjun Balaji. “Synthetix has one of the best communities in crypto and we’re glad to be a part of it.”
The investment is notable for being among the first instances of funds investing directly with and through a project governed by a DAO. How VCs interact with DAO-governed protocols has been a hot topic of late, with some arguing that VCs shouldn’t get preferential treatment, while others say that VCs are welcome, like any entity, to participate in an open ecosystem.
A recent Tweet thread from Hayden Adams, the founder of Uniswap, made the case for working with VCs — so long as they’re the right ones.
1/
I think it’s worth briefly explaining the positive and mutually beneficial experience I’ve had working with @paradigm @a16z @usv and other investors.
I’ve seen a lot of negativity and propaganda so I think it’s worth sharing my personal experience.
Quick thread:
— Hayden Adams (@haydenzadams) February 12, 2021
Jordan Momtazi, a core contributor to Synthetix DAO (and the former Synthetix COO pre governance decentralization), agrees that it’s all about which funds a protocol is working with.
“Many VC’s don’t add much value. The delta between quality VC’s and the rest is quite large,” he said in a statement to Cointelegraph.
Each of the three VCs that joined in on the $12 million raise are bringing additional value to the table that an individual investor might not be able to muster, Momtazi said.
“Paradigm has been helping the protocol recruit talent through their in house HR and network. They’ve also been actively helping think through our v3 planning. Providing insights into approaches around our re-architecture,” Momtazi said. “Coinbase ventures has helped with connectivity across many functions, both internally and externally.”
IOSG, meanwhile, is helping to spearhead Synthetix’s push into China by assisting with the hiring of a China regional lead, as well as with “in person roadshows and creating educational content in Chinese.”
The raise comes during an especially productive period for Synthetix. The team recently announced the launch of synthetic Tesla stock, and SNX was among the tokens that filings show may be the next to be listed as a Grayscale investment trust.
It’s momentum Momtazi hopes the latest members of the community can help carry forth.
“Having the sharpest minds applied to the hardest problems is part of the community’s success and we look forward to working closely with these new stakeholders.”
Image Credit: Refer to Source
Author: Refer to Source Cointelegraph By Andrew Thurman
The news that MicroStrategy, a business consulting service company, will issue convertible bonds to raise funds and buy bitcoins has burst the crypto asset industry. The US Nasdaq listed company originally planned to issue US$400 million in bonds, but on December 9, it increased the total value of the bonds to US$550 million.
Public information shows that MicroStrategy has purchased a large number of bitcoins since July this year. On August 11, the company announced that it had spent $250 million to purchase 21454 BTC. Since then, BTC was purchased in September and December, with a floating profit of US$300 million.
On December 4, the company’s CEO Michael Saylor revealed on Twitter that up to now, the company has a total of about 40,824 BTC. If calculated at the current 18,000 US dollars, the company’s holdings of BTC are equivalent to US$734 million.
After MicroStrategy publicly increased its holdings of Bitcoin, its stock price has also continued to rise. The highest rise from US$120 in early August to US$358, the largest increase of 198%.
MicroStrategy has been added to the “institutional bull” of the currency market this year.
Intended to borrow US$550 million to increase BTC holdings
Looking at Michael Saylor’s Twitter, almost every one recently brought the topic #Bitcoin#, unhindered by rain and rain every day for Bitcoin. He is the CEO of MicroStrategy. His company is an American business consulting service company that uses artificial intelligence and big data solutions to provide analysis for commercial enterprises. In 2016, the company was listed on the Nasdaq.
On December 7th, a message that “US listed companies issue bonds to buy Bitcoin” put MicroStrategy into the vision of the crypto asset market. On the same day, MicroStrategy announced on its official website that it plans to issue 400 million US dollars of bonds to raise funds, mainly for investing in Bitcoin, until the company’s working capital needs and other general purposes are determined. On the evening of the 9th, the company continued to increase its weight, adding another $150 million to the value of the bond.
According to the announcement, these bonds are MicroStrategy’s unsecured senior debts, which are only sold to qualified institutional investors. The hard cap is 60 million U.S. dollars. The interest calculation date is June 15 and December 15 each year, both of which are one-off interest payments . The bond has determined its maturity date of December 15, 2025, and can be redeemed or resold according to relevant terms before maturity. But MicroStrategy has not yet announced the official launch time.
If listed companies issue bonds to buy Bitcoin, if it succeeds, it will be the first in the history of BTC’s development.
On MicroStrategy’s official website, Bitcoin and its core business “Business Intelligence” are listed on the homepage. Click on Bitcoin, the most prominent position on the homepage is the company CEO Michael Saylor’s understanding of Bitcoin:
“Bitcoin is a bank in the cyber space. It is operated by software that does not accept bribes. It provides an affordable, simple and safe savings account for billions of people around the world who have no choice or do not want to run their own hedge funds.”
Wall Street analysts were not at all surprised by MicroStrategy’s investment behavior, because this is not the first time this company has bought BTC.
On August 11 this year, MicroStrategy announced for the first time that it had bought 21,454 BTC for $250 million. At that time, analyst Jason Deane wrote on Medium that MicroStrategy was the first company to hold a large amount of Bitcoin for its reserve strategy. This is not surprising, because the company has been committed to research in forward-looking areas and intelligent business analysis. . He believes that these people who serve information are very keen and they can use some of the best analytical tools in the industry to evaluate Bitcoin.
Not only holding, MicroStrategy also participates in the Bitcoin network. According to its CEO, the company started running a full node of Bitcoin Core 0.20.1 at the end of September.
More than 40,000 BTC holdings with a floating profit of 300 million US dollars
MicroStrategy’s daring to All In BTC is probably out of optimism about this kind of digital gold.
On August 11, in the company’s first press release on the purchase of Bitcoin, Michael Saylor stated that investing in Bitcoin reflects the company’s belief that “Bitcoin, as the most widely used cryptocurrency in the world, is a reliable store of value. And attractive investment assets have long-term appreciation potential than holding cash.” He believes that the current financial situation is creating long-term risks for the company’s reserve plan. “Quantitative easing and regulatory uncertainty are the key reasons.”
In a recent interview, Michael Saylor bluntly stated that the Fed’s policies led him to persuade himself to invest the company’s cash in Bitcoin.
At the beginning of this year, the epidemic broke out, and the US securities market experienced 4 circuit breakers within a month. In order to prevent the stock market from falling, the Fed released a radical strategy, issuing unlimited US dollars to rescue the stock market. Everyone knows that flooding will cause the purchasing power of money to fall, inflation will inevitably fall on ordinary people, and the value of people’s assets will be diluted.
On November 19th, Michael Saylor tweeted his interesting views on corporate asset portfolios. He said that how to invest 600 million US dollars in the company’s fiscal reserve policy is a challenge. He summed up his life’s experience and after months of analysis, he decided to allocate 100% of his assets to Bitcoin. On the allocation ratio of real estate and gold, he wrote “0%”, “This seems reasonable to me.”
In the end, how much money Michael Saylor put in the company’s other asset reserves, his company’s investment in Bitcoin can be described as a “huge throw”.
Starting in July this year, MicroStrategy bought a large amount of BTC. From August 11, the company disclosed its data for the first time, and $250 million was invested in the purchase of bitcoins, a total of 21,454. At that time, the price of BTC was still around $11,000.
Since then, in September and December, the listed company has not stopped.
On September 14, MicroStrategy announced that it had purchased 16,796 BTC for $175 million.
On December 3, Michael Saylor revealed on Twitter that the company purchased approximately 2,574 bitcoins for $50 million on December 3, with an average price of $19,427. At that time, the company already held approximately 40,824 bitcoins.
As of 4:00 pm on December 9th, Bitcoin temporarily reported 18,000 US dollars. According to this price, MicroStrategy’s Bitcoin held was equivalent to 734 million US dollars, a floating profit of 300 million US dollars.
On October 27, MicroStrategy released its third-quarter financial report. The total revenue for the third quarter of 2020 was US$127.4 million, the operating loss was US$20.3 million, and the net loss was US$14.2 million. MicroStrategy suffered a loss in its original business in the third quarter. Its publicly disclosed bitcoin assets have made a profit of US$300 million in the past five months, which is 2.3 times the total earnings in the third quarter. Buying coins can make more money than doing products honestly.
As MicroStrategy continues to publicly increase its holdings of Bitcoin, MicroStrategy’s stock is also rising. At the beginning of August, its stock price was still fluctuating around $120, and by December 1, it had risen to a high of $358, a maximum increase of 198%.
As of December 9th, MicroStrategy stock was quoted at US$318, an increase of 165% in the four months of “buying, buying” BTC.
Michael Saylor not only promotes the company to hold Bitcoin, he also holds a lot of it. On October 28th, he said on Twitter that he holds 17,732 bitcoins, and the holding cost is about 9882 US dollars. “I have informed MicroStrategy of these holdings.”
If calculated at the price of Bitcoin at 4 pm on December 9, the total amount of Bitcoin held by Michael Saylor is equivalent to USD 319 million. Compared with the cost of USD 9,882, he has made a profit of 82%, which is approximately USD 143 million.
Whether it is Grayscale or MicroStrategy, traditional commercial companies are becoming a force that cannot be ignored in the Bitcoin market regarded as “institutional bulls”.
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