The funds was raised for Culture Catalyst Initiative by Avalanche Foundation an NFT launchpad OP3N
In the ongoing event of the Avalanche Summit, the Avalanche Foundation and NFT launchpad OP3N announced a $100 million initiative that would be dedicated to Web3 entertainment named Culture Catalyst. The event dated 22 to 27th march is organized at Poble Espanyol in Barcelona. President of Ava Labs John Wu stated that the Culture Catalyst would boost up the Web 3 entertainment apps on the blockchain network of Avalanche.
John said that the Culture Catalyst initiative of Avalanche Foundation with NFT launchpad OP3N set as a turning point for pop culture and entertainment applications on the Avalanche network. He further said that users could expect the robust NFT scene on Avalanche already to grow into new regions and can be a part of a fresh and new chapter in web 3 culture’s history.
Along with the Culture Catalyst Initiative’s plan, well-known Canadian musician Grimes also revealed her plans to launch one of the projects of initiative that is ‘intergalactic children’s metaverse book. She talked about the project while talking to guests at Avalanche Summit from a video screen. Further saying about Web 3 and how much she was pleased helping efforts of OP3N NFT launchpad Grimes stated that when she got in the Web 3 initially, it was that kind of project which she was hoping to see.
Grimes also told the audience about her excitement of partnering with OP3N about launching an educational art series for babies and children to create and provide a profound experience that would be for babies and would be deeply meaningful for adults.
Grimes, also known to be the wife of world-famous Tesla and SpaceX CEO billionaire Elon Musk, has also been involved in NFT or non fungible tokens ecosystem for the past couple of years. In March 2021, she collaborated with Nifty Gateway, an NFT marketplace, to introduce her Warnymph Collection Volume 1 NFT collection. That particular NFT collection raised around $6 million in sales, and the NFT goes by the title Newborn 1 & 3 were fractionalized among her, Banksy, and Cryptopunks NFTs.
She said at the blockchain event that she had not dropped NFTs since her first NFT drop because of concerns related to environmental threats. But now, she is far more comfortable launching non fungible tokens on Avalanche.
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Source: https://www.thecoinrepublic.com/2022/03/27/grimes-new-metaverse-book-would-fund-by-avalanche-and-op3n-100-mn-initiative/