“Shark Tank”-Style Program To Invest $1 Million for New NFT Project Ideas with Celebrities As Judges

Sound Ventures, a venture capital fund, is launching a “Shark Tank”-style program to audition NFT project ideas, offering $1 million for the winner.

The judging panel comprises Aston Kutcher and Guy Oseary, both co-founders of Sound Ventures, billionaire Mark Cuban, and Musicians like Snoop Dogg and 3LAU.

A $1 Million Investment for the Winner

Like Shark Tank, anyone with an NFT idea, whether a service or a product, can pitch the project to a judging panel. The program will be held virtually on April 21. Aspirants will have time to submit their applications until April 12.

According to the announcement, amounts and terms will vary by company, and not every ideal will receive an investment. The event is private, and only applicants will be participating in it.

Two other essential judges are Whale Shark, a 38-year-old NFT collector who recently tokenized his vault containing valuable digital collectibles, and Vignesh Sundaresan, known as MetaKovan, the anonymous buyer of Beeple’s $69 million NFT sold at Christie’s.

NFT Taking the Mainstream by Storm

The NFT movement has expanded and now calling the attention of wealthy investors, influencers, billionaires musicians, such as Mark Cuban, Kings of Leon, Snoop Dogg, and many others.

NFL (National Football League) stars are also joining the NFT space. The seven-time Super Bowl champion Tom Brady recently announced launching an NFT platform called Autograph, onboarding advisors from Apple, DraftKings, and Spotify.

What are NFTs and Why They Have Become so Popular?

As explained in our guide, NFTs (Non-Fungible Tokens) are different from regular crypto-assets as they can only be used to represent ownership of unique items that can be traded on Ethereum marketplaces. NFTs cannot be exchanged with one another because each item is a unique digital asset.

Decentraland, an NFT-powered virtual world and videogame, has become an attractive digital environment for crypto-enthusiast where they can own parcels of LAND, as well as buying, selling, and auctioning NFT collectibles with the community. The protocol also announced a layer-two bridge for MANA token transfers, enabling users to move MANA tokens to Polygon and back.