Sound Ventures, a popular venture capital fund, musician and billionaire, will deliver at least $ 1 million next week for the idea of the “most innovative” intangible icon.
The event was announced on Monday, and it invites everyone from around the world to present the NFT project to a team of eight referees by April 12th. According to the competition aspect, it doesn’t matter if the presentations are nothing more than an idea, or the entire product range is already in the market. The wording also indicates that contest winners will have the opportunity to work with Sound Ventures over the long term.
“Applicants should be interested in establishing a company in the long term,” the statement said.
Up to 30 finalists will be selected to participate in a closed live show with the judges on April 21, two weeks later.
The team is not required to accept the investment, and there is no specific deadline for distributing the investment. The section on the frequently asked questions in the competition states the following: “The amounts and terms of investment depend on the company.”
It is unclear how many submissions will be selected from the 30 finalists, but the competition page states that investments in the selectors may exceed $ 1 million.
Sound Ventures co-founders, acclaimed actor Ashton Kutcher and talent manager Guy Osiri, will feature on the jury alongside the remaining six judges, including NBA owner Dallas Mavericks, billionaire Mark Cuban, rapper Snoop Dogg, EDM 3LAU singer and NFT investor Whale Shark. And MetaKovan, and co-founder of Scalar Capital Linda Xie.
Sound Ventures Arbitration: $ 1 million: Sound Ventures
The whale shark and Metakophan, although not as well known as any of the other rulers, are two of the most revered characters in the NFT Room. Whale Shark recently acquired a vault that houses an NFT group for investors to buy from. The company currently has a market cap of approximately $ 23 million. MetaKovan, or Winnesh Sundaresan, is the winner of Christie’s $ 69 million auction held by Bilom last month and is a popular NFT collector.
The competition was organized by Kutcher and Osiri of Sound Ventures. Osiri U2 clients include and longtime business partner Madonna. The couple also manages A-Grade Investments venture capital, which contains an overview of support for successful projects such as Airbnb, Foursquare, Shazam, SoundCloud, Spotify and Uber.
Kutcher already gained a questionable reputation in the NFT sector by auctioning a digital copy of his notebook in August 2020. The original drawing demonstrating the benefits of digital images over physical art has been destroyed, with funds raised for the environment. non-governmental organizations.
Ashton Kutcher displays his burnt artwork
The piece, titled Eye of the Beholder, sold for 20 ether (ETH) (currently $ 42,600).