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The Avalanche Foundation and web3 social media platform Op3n have announced a $100 million Culture Catalyst initiative. Elon Musk’s ex-wife – Grimes will also participate in this project.
The Culture Catalyst initiative helps advertisers build projects on Avalanche. This project as a blockchain network grows with non-cryptocurrency applications.
Culture Catalyst is the first project to accept payments with AVAX native tokens. The project is geared towards musician Grimes, who previously sold her $6 million NFT collection. She plans to create an “intergalactic children’s metaverse book”. The book is expected to follow in the footsteps of Studio Ghibli’s famous film, My Neighbor Totoro. She was set to announce the project via video link at the Avalanche Summit taking place in Barcelona on Friday.
Founder Jaeson Ma said that projects will be offered exclusively on Op3n “web3 WeChat”. In addition, Op3n has collaborated with female singer Ava Max in her upcoming music video.
Op3n has an interface quite similar to TikTok, creators can easily interact with fans through web3 technology. Users can access creator profiles which connect their wallets to buy NFTs, giving fans access to additional content. It recently raised a $10 million seed round led by Galaxy Interactive and BRV Capital Management.
Jaeson Ma is also the co-founder of 88.Aging – a major music label. This company has cooperated to help famous Asian artists such as Joji, Rich Brian and Keith Ape to come to America. Jaeson Ma hopes the same will happen with the NFT:
I have been involved in this music, film, entertainment and media space for 20 years. So I’m leveraging those relationships and now introducing Hollywood and the music industry to the NFT.
According to John Wu, president of Ava Labs, Culture Catalyst is an opportunity to increase Avalanche’s cultural cache while the public’s awareness of cryptocurrencies is only Ethereum and Bitcoin.
Talking about the cooperation between Avalanche and Op3n, he said:
The Avalanche Foundation’s Cultural Catalytic Initiative with Op3n marks a turning point for popular culture and entertainment applications on Avalanche
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