Tokenproof, a startup working to secure nonfungible tokens against theft and scams, said today that it has raised $5 million in seed funding led by PennyJar Capital to make Web3 safer for NFT owners so they can realize their value without fear.
Nonfungible tokens are a type of crypto asset on blockchains that represent the ownership of a particular digital or physical asset. These digital items can be anything from artwork, music, files or other virtual assets such as gaming items. Some of the world’s most coveted artwork NFTs have reached hundreds of millions in value, such as Beeple’s Everydays: the First 5’000 Days, which sold at auction for $69 million in 2021.
In 2021, the NFT market skyrocketed to $41 billion in value, according to a report from blockchain analytics company Chainalysis, dwarfing the $100 million in digital collectible sales in 2020. Although the market has cooled somewhat in 2022, with sales falling 25% between the first and second quarters, it has still...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...