By
Temitope Olatunji
May 9th, 2024
AutographNFT.io is the initial product launched by AlchemyNFT that makes autographing of unique digital assets possible through social media IDs.
Victor Zhang called AlchemyNFT a game-changer as it would empower owners of NFTs to utilize their holdings in multiple ways.
Here is a crypto-based startup that wants to transform the NFT industry by bringing in a new layer of liquidity and utility. Using TokenScript technology, AlchemyNFT wants owners and developers to work and play around NFTs while also giving them tools to remix the same.
In a 5-Stage growth plan, the company plans to set the ball rolling to bring in a new change in the blockchain-based NFT market. It received $6m funds from key investors like Hash Global, Crypto.com Capital, Mechanism Capital, Framework Ventures, Fenbushi Capital, DRF, LongHash Ventures, Huobi Ventures, OKEx Blockdream Ventures, etc. Billionaire entrepreneur Mark Cuban was also one of the investors. AlchemyNFT Founder Victor Zhang confirmed that the new funds will be used to hire new and competent talent so that the AlchemyNFT platform grows and the team gets bigger in number. AlchemyNFT is a crypto venture led by the team responsible for crypto wallet AlphaWallet.
First Product from AlchemyNFT
AutographNFT.io is the initial product launched by AlchemyNFT that makes autographing of unique digital assets possible through social media IDs. Now you can get your favorite person’s digital autograph on your NFT at one go. Another functionality offered by the platform is payment to celebs and artists after they autograph the NFTs and donation of the proceeds to charities.
To give the platform a memorable and effective launch, the company got Ethereum co-founder Vitalik Buterin, to use his Twitter ID and sign an NFT entitled “The Alchemist” by artist Mladen Petronijevic. Some years back, the Ethereum community handed over ‘The Alchemist’ NFT to Zhang as a Gitcoin Kudos.
Using the TokenScript technology in conjunction with the EVM smart contracts, this platform will increase the value of NFTs considerably. The TokenScript technology plays a big role in bringing context, security and cross-platform functionality to these tokens. In 2018, AlphaWallet used the technology for the FIFA World Cup and therefore, the technology has been in use for some years now.
Growth of NFTs and AlchemyNFT Activities
From being limited to the financial elite to now being tokenized for both tangible and intangible assets, NFTs have come a long way. Now you have both metaverses and physical NFT exhibitions which prove the growth of this technology. The AlchemyNFT team has witnessed this growth and confidence among buyers and has been in the process of building exemplary products using top-notch technology. However, NFTs are still at their nascent stage and a lot in terms of the ecosystem around it needs work to help buyers and sellers use them to their maximum potential.