NFT protocol Alethea AI, backed by Mark Cuban, raises $16 million in private token sale

The team behind the NFT protocol Alethea AI closed a private token sale at $16 million to “build scalable infrastructure for an AI-based NFT market.”

1/ After our groundbreaking sale of the world’s first iNFT at @Sotheby’s for almost half a million, we’re excited to announce that the private sale for Alethea has brought in $16 million with @metapurse,@mcuban, @cryptocom @multicoincap @bitkraftVC+…https://t.co/1rshkShArv

— Alethea AI (We’re Hiring) (@real_alethea) August 24, 2021

The token sale featured Mark Cuban, Metapurse and Crypto.com. Funding was also provided by Alameda Research, Multicoin, Galaxy Interactive, Dapper Labs, LD Capital, Gemini Frontier Fund, Borderless Capital, Meltem Demirors of CoinShares and Hasib Kureshi of Dragonfly Capital.

Artificial intelligence will give NFTs more dynamic characteristics. The aim is, using the Alethea protocol, to turn non-fungible tokens into “interactive media assets with personality traits, preferences and real-time interactive capabilities.”

The startup is supported in developing the core technology by the OpenAI consortium.

“Alethea AI has managed to create AI-powered avatars with NFT protection. It’s a complete platform for interactive entertainment that will continue to evolve. The possibilities are limitless!”, commented Mark Cuban.

In August OpenSea’s NFT marketplace sales surpassed $800 million.

In the first half of 2021, NFT sales reached $2.5 billion.

In late July, Galaxy Digital founder Mike Novogratz predicted NFT market growth over the next decade and described the technology as ‘expensive for the future’.

Earlier, FTX founder Sam Bankman-Fried, in an interview with CNBC expressed optimism and caution regarding the prospects for non-fungible tokens.

Follow ForkLog news on Telegram: ForkLog Feed — all the news, ForkLog — the most important news, infographics and opinions