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Dust Labs, a non-fungible token (NFT) software business, disclosed a $7 million investment round on Monday during the chaos surrounding the launch of its Solana-based y00ts NFT.

Foundation Capital, Solana Ventures, Metaplex, Jump, FTX Ventures, and Chapter One are among the investors in the round. According to a spokesman, the investment was split 50/50 between firm equity and the DUST cryptocurrency.

DUST is a utility token on Solana that has been called the DeGods ecosystem's official money. DeGods is well-known for its well-known eponymous PFP, which is the most valuable collection in the Solana NFT world.

DUST was down 30% from its daily high of $3 at 11:30 p.m. New York time as traders processed the news. It is fairly uncommon for tokens purchased to qualify for an NFT release to lose value after the release.

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The firm, founded by the DeGods NFT collective, specializes in supplying NFT tooling to Solana and Ethereum projects. Its initial product is a whitelisting tool for "scholarships," which it demonstrated during the y00ts mint.

The DeGods team has had a frantic week, delaying the release for its buzzy y00ts project due to a last-minute "blocking bug." Dust Labs has announced that it will do an AMA (ask me anything) on Thursday to provide further details.

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