31/07/2021 Mark Cuban invests in AlchemyNFT, an NFT customization platform

nft nonfungible token

AlchemyNFT, a non-fungible token (NFT) service that allows users to customize the NFTs they own, has announced that it raised $6 million to improve its platform. Investors include Crypto.com and billionaire Mark Cuban.

Most NFT offerings today don’t have much utility besides the value of ownership attributed by the purchaser to the URL of the NFT. Some tokens come with additional perks and physical rewards. However, once purchased, the utility of the NFT relies on its market price and the attraction of collecting. The industry is still very concentrated on speculative trading, and some argue that projects such as Topp’s WAX and Dapper Lab’s Top Shot promote this behavior.

One of the earliest NFT offerings was CryptoKitties which allowed users to buy and breed custom cats based on eye shape and the color of various parts of their anatomy.

The Big Idea

The concept behind AlchemyNFT’s service addresses both the single use challenge of NFTs. It adds some of the concepts that underpinned CryptoKitties by enabling NFT owners to enhance their token by customizing it. 

Some of the features that AlchemyNFT platform enables include adding in digital signatures or other ‘remix’ traits, bundling collections, and collaborating with other artists to recreate an NFT based on an existing version. 

The startup was founded by digital wallet AlphaWallet and launched in April of this year. 

The first product launched on the platform is AutographNFT. This allows people to sign NFTs through their social network IDs. If an NFT owner wants a celebrity’s signature on their digital asset, they can make an offer on the celebrity’s Twitter profile, which can be accepted by signing it with their Twitter ID attestation. 

Once signed, the original NFT is locked in AlchemyNFT’s smart contract, which mints a new NFT identical to the original apart from the inclusion of the celebrity’s ID attestation signature. AutographNFT uses smart contracts and AlphaWallet’s TokenScript technology.

The example AlchemyNFT gave was Mark Cuban autographing a CryptoPunk. But consider a sports star adding his signature to a collectible video moment or sports card. Or providing a personal audio message.

“Remix NFTs are a game-changer and AlchemyNFT is proud to provide the platform to empower NFT users and developers to do whatever they can imagine — whether it is owners adding music or autographs to their NFTs or marketplaces where musicians reward supporters with redeemable rights. It brings in a new layer of Liquidity and Utility,” said AlchemyNFT founder Victor Zhang. “With the new financing, we can grow and expand our AlchemyNFT platform and grow our team. I look forward to more talents joining our startup journey.”

Meanwhile, Shopify is expanding its services to enable brands to sell licensed NFTs through their own storefronts, and already has NBA’s Chicago Bulls as a client, and DraftKings and Lionsgate have partnered with Tom Brady’s Autograph for celebrities and athletes NFTs.

Mark Cuban has also invested in NFT art marketplace SuperRare, NFT data aggregator CryptoSlam, and minting platform Mintable




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OWNER: Sir Tim Berners-Lee Sir Tim Berners-Lee, b. 1955 Source Code for the WWW 1990-1991 Work includes: Original archive of dated and time-stamped files containing the source code, written between 3 October 1990 and 24 August 1991. These files contain code with approximately 9,555 lines, the contents of which include implementations of the three languages and protocols invented by Sir Tim; HTML (Hypertext Markup Language); HTTP (Hyper Transfer Protocol); and URIs (Uniform Resource Identifiers), as well as the original HTML documents that instructed early web users on how to use the application Animated visualization of the code being written (Video, black & white, silent), lasting 30 minutes 25 seconds A Scalable Vector Graphics (SVG) representation of the full code (A0 841mm wide by 1189 mm high), created by Sir Tim from the original files using Python, with a graphic representation of his physical signature at lower right A letter written in the README.md file (in “markdown” format) by Sir Tim in June of 2021, reflecting upon the code and his process of creating it Non-fungible Token ERC-721 Minted on June 15, 2021, ed. 1/1 Smart Contract Address: 0x86ade256037d80d6d42df8df96d5be21cd25bd8f
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