A Twitter post by Dust Labs says, “We would like to announce that we have raised a strategic round of $7M to build out the $DUST ecosystem. AMA with @frankdegods & our CEO @kevindegods on Thursday, September 8th.”
The Solana NFT project, yOOts, has been making some waves following its launch on Monday. It has been topping the secondary markets as the NFTs sell at a premium over the mint price.
Amid the buzz following the rollout, Dust Labs, the Web3 tech company overseeing the project, has made some gains from certain notable investors.
The tech startup, tied to the yOOts and DeGods NFT project, has raised $7 million from different venture capital firms, such as FTX Ventures and Solana Ventures, Magic Eden, Metaplex, Foundation Capital, and Jump.
They also noted that their success originated from DeGods, which is currently the most valuable NFT profile picture project (PFP) on the Solana blockchain.
Dust Labs announced this in a Twitter post, saying:
“We would like to announce that we have raised a strategic round of $7M to build out the $DUST ecosystem. AMA with @frankdegods & our CEO @kevindegods on Thursday, September 8th.”
This PFP was founded by DeGods creator, Frank, who aims to build software that enables NFT communities to bring more value to their holders. He stated that Dust Labs is a “tech company spun off” DeGods project.
Dust Labs is credited for building the yOOts minting website. Its utility token was launched initially as a reward for DeGods holders. But now, it is the only token that will enable buyers to mint the yOOts NFT in the primary sale and can also be used by Magic Eden since it incorporates Solana-based tokens.
It is worth knowing that yOOts was launched with 15,000 Solana-based collectibles. These NFT collectibles were made available to holders of DeGods and those invited to the exclusive whitelist. The NFTs from the mint are called toobs. They can be burned to get the actual yOOts, and the process will start on September 9.
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