The popular Web3 art platform Wildxyz has generated $7 million in a seed funding round. The company tweeted on March 9, disclosing plans to utilize the funds to pursue non-fungible token (NFT) related projects, including residency programs.
The successful funding round was led by Matrix Partners in partnership with dominos in the crypto space. Besides the crypto firms, crypto moguls and celebrities, including Gwyneth Paltrow, supported the seed round.
Wildxyz Reveals Plans
The event was graced by the founder of LinkedIn, Reid Hoffman, with his closest ally Kevin Lin, the co-founder of the American gaming platform Twitch. Also, the well-known NFT influencer Cozomo de Medici joined other participants in raising measurable funds to steer Wildxyz in a direction that will lead to success.
As per Wildxyz’s report, the funding round yielded $7 million, which will be utilized to support its residency program. In particular, the residency program was launched to support the growth of NFT arts by providing the artist with mentorship programs, technical support and engage in community development projects.
A report from Wildxyz chief executive Douglass Kobs revealed that the residency program aims to assist the dedicated artist in developing unique Web3 projects crucial in developing NFTs. In his report, Kobs considers augmented reality ( AR)and virtual reality (VR) technologies as converging forces that will drive the Web3 revolution.
He stated that the Wild team plans to leverage their expertise and technologies to develop NFT collections that boost user experiences and uphold community development.
Wild Achievement in Improving NFT Growth
In 2022, the Wild team launched its residency program, incorporating a 12-weeks training program from last November to mid-January 2023. According to Wild, the recent residency learning program inspired the company to work closely with popular artists, including Sasha Belitskaja, Auguste Wibo, Mitchel Chan and other to attain the common goal.
Revolving around the residency training program, the participant gained immersive knowledge on NFTs that will impact the development of cutting edge digital assets. Besides the learning experiences, the residency beneficiaries built a solid social network with other attendees necessary to support personal and career growth.
Nonetheless, the quest to attain the residency program long-term objective challenged the Wild team to auction their artistic work weekly. The sales initiative has enabled the Wild community to buy the NFTs at a considerable rate starting from 0.1 ETH to over $160.
Following the community’s active participation in the residency program Kobs and his team plan to utilize their efforts to support the NFT artists. Kobs noted that the residency program would enable the artist to align their daily activities with their long-term goals, which are important to excel in Web3.
Based on Kobs’ report, the residency program is crucial in supporting the artist to navigate the crypto space.
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