💰 Buyers Pay $7 Million For Unseen NFT Collection

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Buyers pay $7 Million For Unseen NFT Collection

Buyers have paid $7 million into a Dutch auction to gain one of 50 Golden Tokens, which grants ownership to the unminted NFT collection by artist Tyler Hobbs.

Notably, the NFT (non-fungible tokens) investors have put a huge amount of $7 million into a Dutch auction that offered 50 tokens granting ownership over digital artworks, which will not be minted until December.

Tyler Hobbs, who is the artist of the popular NFT series “Fidenza,” will launch 100 one-a-kind digital artworks in his latest collection.

The collection dubbed as “Incomplete Control” debuts at the Bright Moments gallery in New York City from December 9 to 13.

On October 22, fans of Hobbs paid 1,800 Ether (about $7 million) in exchange for 50 of 100 “Golden Tokens,” which allow the bearer ownership rights to one of the artworks set to be minted during the event.

The tokens were auctioned by Mirror Protocol, a Dutch auction company. The Golden Tokens were initially priced at 500 Ether each; however, all the 50 tokens were sold at prices of between 30 Ether (roughly $120,000) and 80 Ether ($320,000) each.

Tesla Rolls Back Its New Full Self-Driving Beta Over Software Concerns

Elon Musk’s Tesla has rolled back the latest version of Full Self-Driving (FSD) beta software less than a day after releasing it.

The electric car maker has pulled back the feature after several users complained of false collision warnings, among other issues.

In a tweet, Tesla CEO Elon Musk said, “Seeing some issues with 10.3, so rolling back to 10.2 temporarily. Please note, this is to be expected with beta software. It is impossible to test all hardware configs in all conditions with internal QA, hence public beta.”

The Full Self-Driving (FSD) feature is optional software that provides users autonomous driving features in Tesla cars.

While the company released the software as limited beta software to eligible drivers in the U.S., it has already caused controversy as some experts feared that it will put other vehicles in the traffic at risk.

However, the company has said that issues are expected with beta software, and it is impossible to test all hardware configurations in all conditions with internal QA.

Thrasio Raises Over $1 Billion in Its Latest Funding Round

Thrasio, the aggregator of third-party sellers on Amazon.com, has raised $1 billion in its Series D funding round.

The funding was co-led by Silver Lake and Advent International. Existing investors Upper90, Oaktree Capital Management, PEAK6 Investments, and Corner Capital also participated in the funding round.

The latest funding round, in addition to the $650 million debt facility announced in September, takes the startup’s total funding to $3.4 billion.

Founded in 2018 by Carlos Cashman and Joshua Silberstein, Thrasio is a digital consumer goods company that acquires private label Amazon FBA businesses and direct-to-consumer e-commerce brands.

Thrasio will use the latest proceeds for acquiring promising brands in both domestic and international markets.

It also plans to expand its distribution through additional channels. Currently, the company is at a rate of buying 1.5 businesses per week and now has some 200 brands in its portfolio.

The startup has already made significant inroads globally and has established operations in the UK, Germany, China, and Japan in the last year.

Footwear Maker Allbirds Targeting $2 Billion Valuation With IPO

Allbirds, the eco-friendly footwear maker, has said that it aims to reach a valuation of over $2 billion in its IPO, as announced in a securities filing.

The company updated its registration statement with the U.S. Securities and Exchange Commission (SEC), setting a target price for the offering of $12 to $14 a share.

The actual share price will be finalized soon. It is said that the company also plans to sell at least 15.4 million shares in the initial public offering.

Allbirds stock market debut will add to the wave of retail brands that started their businesses by selling directly to consumers online that are testing the hunger of investors.

Allbirds was founded in 2015 and has mainly relied on the internet to sell its wool sneakers, among other eco-friendly products.

Currently, the company operates in just 27 stores and has plans to make a larger push into shopping malls and street-front stores in the future.

With this IPO, the company aims to increase its capitalization and financial flexibility and create a public market for Class A common stock.

Around the Web

🚀 BNPL Startup Billie Raises $100 Million: German-based BNPL startup, Billie, has raised $100 million in its Series C funding round. The round was led by London’s Dawn Capital, with internet giant Tencent and Klarna also participating; existing investors Creandum, Speedinvest, Picus, and GFC also participated in the round.

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