DeGods & y00ts’ Dust Labs Receives $7M In Funding
DeGods & y00ts’ Dust Labs receives $7M in funding. After the long-awaited y00ts collection began its minting, the Dust Labs team also announced some massive news for its community.
About The Funding
The NFT software company and parent comapny of NFT projects DeGods and y00ts has recently announced through their Twitter that they have successfully raised $7 million in funding.
A number of notable figures and companies have joined in as participants raising money for the seed round, including FTX Ventures, Magic Eden, Foundation Capital, Solana Ventures, Big Brain Holdings and many more.
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
“We’ve never seen a community quite like @DeGodsNFT & @y00tsNFT- both built by @dust_labs. The creativity of @frankdegods is unlike anything in crypto and @kevindegods
is a world class engineer who will make this crazy vision happen.” says Crypto Venture Firm Chapter One’s founder and managing partner, Jeff Morris Jr.
The Dust Labs team explains that this $7 million in funds will ultimately be used to further develop and build their token, $DUST.
DeGods founder, @FrankDeGods and the Dust Labs CEO @ @kevindegods will reportedly be talking more about these raised funds as well as their plans for the future of their projects in an upcoming Q&A on Thursday, September 8th.
What Is $DUST
$DUST itself is Dust Labs’ own utility token based on the Solana blockchain and is known to be the official currency for both the DeGods as well as now the y00ts ecosystem.
$DUST has been gaining traction these past few months due to the news of the new upcoming NFT Collectio y00ts, which will require those who have been whitelisted to have $DUST in order to mint their y00ts NFTs.
Related: Y00TS Delays Its Minting Process, Here Are The Details!
However, with a few issues surrounding the y00ts minting process, including the mint being postponed by more than 24 hours and several users complaining of receiving error messages when trying to mint their NFTs.
At the time of writing, $DUST is trading at $2.34, falling by 16% in the past 24 hours since news of the y00ts mint delayed.
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