Web3 news, May 10: Madonna releases NFTs, Andreessen Horowitz invests more in the space

It’s all about the money today: so much news of funding definitely indicates investors’ trust in the Web3 industry, especially if it involves whales like Andreessen Horowitz. Now, let’s see who raised how much and what for.

NFT protocol raised $25 million in a seed round led by A16z

An NFT infrastructure protocol Co:create has raised $25 million to continue building their platform that assists NFT projects with launching tokens and handling DAOs.

The list of investors includes Andreessen Horowitz’s crypto venture, A16z, Tom Brady’s NFT platform Autograph, FTX Ventures’ Amy Wu, Gary Vaynerchuk’s VaynerFund, Packy McCormick’s Not Boring Capital, others.

“We want to support decentralized brands of the future. The combination of NFT plus fungible native token and DAO will just unlock the full potential of NFT projects and web3 brands,” co-founder and CEO of Co:Create Tara Fung said to a leading crypto publication The Block.

Madonna to release ‘Mother of Creation’ NFTs in partnership with Beeple

It seems like Madonna has an unlimited supply of imagination and ways to surprise the audience. This time the 63-year-old singer has released NFTs in collaboration with Beeple, which they have been working on for a year.

The collection dubbed the “Mother of Creation” consists of 3 items: Mother of Nature, Mother of Evolution and Mother of Technology, each of which depicted Madonna without clothes and in questionable poses.

According to the singer, the nature of the NFTs was not chosen “for the sake of provocation,” but “They stand for hope. They stand for technology.” The proceeds from the sale will go to three charities: The Voices of Children Foundation, Black Mama’s Bail Out and the City of Joy Foundation.

Web3 community platform receives $11 million in funding

Highlight, a platform that lets creators mint NFTs and create communities, has raised $11 million led by a former Andreessen Horowitz partner Katie Haun’s fund, Haun Ventures.

Highlight helps mint NFTs without coding and crypto knowledge. The funding round also comprises Coinbase Ventures, Polygon Studios, DAOJones, Offline Ventures, 1kx, A_Capital, Floodgate and others.

Crypto exchange KuCoin announces $150 million funding, plans to expand into Web3

International crypto exchange KuCoin is expanding beyond traditional trading services. It announced on Tuesday that it finished a $150 million round led by Jump Crypto at a $10 billion evaluation.

KuCoin aims at adding services and features to its users, including “boosting its portfolio of crypto wallets,” NFT platforms, DeFi offering, play-to-earn (P2E) games and exploring one of the hottest trends today, Web3.

Other notable investors who participated in the round are IDG Capital, Matrix Partners and a venture capital arm of Circle, Circle Ventures.

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