As the blockchain network’s popularity among non-crypto natives develops, the Avalanche Foundation and web3 social media platform Op3n launched a $100 million programme for creatives to build projects on Avalanche.
The first of these financed initiatives, called the Culture Catalyst initiative and paid out in the network’s native token AVAX, will go to singer Grimes. The singer, who has already sold $6 million in NFTs, intends to write an “intergalactic children’s metaverse book” in the hopes of following in the footsteps of the acclaimed Studio Ghibli film My Neighbor Totoro.
She was expected to make the announcement by videolink at the Avalanche Summit in Barcelona on Friday.
This and future projects, including singer Ava Max’s next music video, will be accessible only on the self-described “web3 WeChat” Op3n, according to CEO Jaeson Ma in an interview.
Op3n, which has a user interface similar to TikTok, claims to be an app that makes it simple for artists to leverage web3 technology to communicate with followers. Users choose a creator’s profile and link their money to buy an NFT, which grants the fan access to further content. It recently raised a seed round of $10 million funded by Galaxy Interactive and BRV Capital Management.
Ma was formerly a co-founder of 88rising, a music company that supported Asian artists like Joji, Rich Brian, and Keith Ape in making the transition to the United States. He now aims to accomplish the same for the widespread adoption of NFTs.