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Afterparty’s $4 million raise for Polygon NFT Ticketing is backed by Paris Hilton

Afterparty is attempting to establish itself as the first go-to NFT ticketing platform that provides additional benefits to fans.



Afterparty, an NFT-focused firm, has raised $4 million from a number of investors to help it further develop its NFT ticketing platform, increasing its total funding to $7 million.

Paris Hilton, Zillow co-founder Spencer Rascoff, Jason Calacanis, NBA player Andre Iguodala, “Project Runway” executive producer Desiree Gruber, and Nicole Farb of VC firm Headline are among the project’s notable angel investors. Acrew Capital, Blockchange, and TenOneTen Ventures, three of Afterparty’s top seed investors, also participated in the round of fundraising.

Afterparty is an all-in-one event ticketing and organizing company that organized the first NFT-ticketed music festival in March. The Utopians collection of NFT tickets was created on Ethereum and features a variety of celebrities, including Heidi Klum, Josh Duhamel, Sia, and influencers David Dobrik, Loren Gray, and Bryce Hall.

The electronic duo The Chainsmokers and rapper The Kid Laroi headlined the Afterparty Music Festival in Las Vegas for Utopians holders. Sofi Tukker, Tokimonsta, Bob Moses, and others performed at the event.

Now, Afterparty is preparing to offer the Guardians, its second NFT collection, on Polygon, as well as its NFT ticketing marketplace. In an interview with Decrypt, Afterparty CEO and Founder David Fields said that version 2 of the NFT marketplace will launch on Polygon in May.

NFTs are one-of-a-kind tokens that reside on a blockchain such as Ethereum and represent the holder’s ownership of an asset or membership benefits.

Fields added that the switch to Polygon was made in order to keep buyer fees low and differentiate Afterparty from established services like Stubhub and Ticketmaster, which have irritated users with high transaction fees. (In the past, many people have complained about Ethereum mainnet gas fees.)

While the Utopians and Guardians NFTs provide access to their respective Afterparty-organized events, Fields believes that in the future, the company will focus on being a specialized NFT ticketing platform rather than an all-in-one event host.

“We chose to launch our own events for two reasons: one, to show the strategy on a broad scale, and two, to truly build strong ties… Fields told Decrypt that “over time, we see ourselves building up more of a marketplace for experiences… [with] concert ticketing being one of them.”

Every Afterparty NFT comes with ownership of a piece of digital art, admittance to an upcoming event, and other promised perks. The NFTs from Afterparty also give the bearer future access to acquire future Afterparty event tickets, making them a kind of future presale or “allowlist” pass.

Afterparty has partnered with MoonPay for its forthcoming Los Angeles event in October to facilitate credit card payments for people without bitcoin wallets who desire to pay with fiat for their Guardians NFTs.

The afterparty will provide holders with flexible NFT custody, allowing them to take complete control of their assets at any time and move them to their own wallets or cold storage if they so desire.

“Giving creators the tools to reach their full potential with Web3 is a significant part of our aim at Afterparty,” Fields added.

However, he acknowledged that NFTs are still a niche asset, and that many enthusiasts will be new to cryptocurrency.

“We’re sort of far from a world where NFTs can actually be used to their full potential for creators without 99.9% of those creators’ audience having a crypto wallet,” he said, “and we want to be part of the answer there.”


According to Music Ally, Spotify has begun testing NFTs on its platform

If a trial deployment goes well, artists may soon be allowed to market their non-fungible tokens (NFTs) on Spotify, according to Music Ally.



Spotify, the most recent tech business to join the NFT bandwagon, entered the web3 world earlier this month with the introduction of “Spotify Island” on Roblox on May 3. Spotify will now test NFTs on the platform to specifically selected US consumers, starting with a single trial selection of artists, including Steve Aoki and The Wombats.

Users will have to purchase NFTs through an external marketplace, thus they won’t be able to sell them directly. As part of the trial, Spotify has stated that it will not take a portion of the sales.

Simultaneously, customers have stated that Spotify is sending out surveys and even paying some people to talk to team members about their feelings regarding NFTs and web3. Questions concerning sentiment, cryptocurrency purchases, and why people acquired NFTs have been circulated on Twitter. Some poster responded with mockery to the queries.

Since March, when Spotify placed two job offers for working on early-stage web3 projects, rumors have circulated that the firm was interested in entering the web3. The announcement comes only days after Meta revealed that it would begin testing digital collectibles and NFTs on Instagram as well.

By the time of publication, Spotify had not responded to a request for comment from The Block.

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Square Enix intends to issue tokens and make a significant investment in Web3 gaming

By investing in blockchain gaming infrastructure, the big game producer is altering its business strategy to include a stronger NFT environment.



Square Enix announced in its first-quarter results report that as part of its medium-term business strategy in 2022, it will include nonfungible tokens (NFTs) into more game goods.

According to Square Enix’s most recent earnings report, the company manages $3 billion in assets. The company controls the Final Fantasy franchise, which it sold for $300 million on May 3rd.

According to the report, the company began testing NFTs in February this year on the Shi-San-Sei Million Arthur game. If the pilot program is a success, the game’s NFTs will be renewed for a second season, and the company will expand its NFT and blockchain activities.

SE wants to provide regulatory clarity and norms for blockchain gaming, address scalability in NFT economies, and consider forming a corporate capital venture unit, among the top priorities of its blockchain domain projects.

The company also announced that it intends to create an overseas organization that will be responsible for “issue, administering, and investing our own tokens,” implying that the company will begin to build a large gaming-token economy.

SE has been exploring its options in the blockchain gaming market with the help of Web3 gaming and metaverse venture capital firm Animoca Brands. As SE digs deeper into the ecosystem, collaboration between the two companies is expected to deepen.

Square Enix’s gaming clout, according to Animoca’s executive chairman Yat Siu, will only help the company establish a blockchain gaming presence. On Monday, he said to Cointelegraph,

“Square Enix has long talked about the possibilities of blockchain games, so it understands it better than most of the traditional gaming titans.”

The third objective of the report’s medium-term business strategy is to invest in and monetize blockchain, artificial intelligence (AI), and cloud computing. This aligns with CEO Yosuke Matsuda’s stated desire in January to increase his company’s involvement in such technologies.

Despite a broad cryptocurrency market dip in 2022, the appeal of Web3 and NFT gaming has remained strong. On Saturday, according to market tracker DappRader, there were roughly one million daily active gamers, nearly the same as on January 1.

Gamers, on the other hand, aren’t spending as much as they used to, with total sales volume for NFT game items falling 88 percent from $70 on January 1 to $8.7 million on Saturday.

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Ukraine’s Ministry of Digital Transformation has approved a charity NFT initiative to aid military operations

On Thursday, Mykhailo Fedorov, Ukraine’s Vice Prime Minister and Minister of Digital Transformation, tweeted his support for Avatars for Ukraine, a non-fungible token (NFT) project that benefits Ukraine’s humanitarian and defense efforts.



The project includes 70 digital artworks based on Ukrainian imagery and resistance to Russian forces that evolved as a result of the Russia-Ukraine war. All earnings from the sale of digital art go to support Ukrainian war efforts. The Ukrainian Ministry of Digital Transformation has approved Avatars for Ukraine, and the first NFT will be released on May 19.

This isn’t the first time Ukrainian officials have used blockchain technology to help fund war activities. The Ukrainian government opened a website in April this year where people could purchase and trade NFTs to support Ukraine’s military efforts, as well as raise over $100 million in crypto donations.

Avatars for Ukraine also joins a growing trend of NFT projects assisting in the donation of monies to charity, with some or all of the proceeds of NFT art going directly to the charity.

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