Sound Ventures, the venture capital fund consisting of celebrities, musicians and a billionaire, will give at least $ 1 million to the “most innovative” non-tradable token (NFT) idea next week.
Announced on April 5, the event invites everyone around the world to present their NFT projects to the team of eight jurors before April 12. According to the contest page, projects may be products that have already been released and completed, or they may be at the idea stage. The winners of the competition will also have the opportunity to work with Sound Ventures for a long time.
It was stated in the announcement that “applicants should be interested in establishing a company in the long term”.
Working on NFTs? Pitch your idea LIVE to me @guyoseary @snoopdogg @ 3LAU @WhaleShark_Pro @MetaKovan @aplusk @ljxie. $1,000,000 will be invested to discover/support the most innovative. Apply by 4/12 https://t.co/cE2rb7md04
— Mark Cuban (@mcuban) April 5, 2021
30 finalists will be selected from among the applicants, and these finalists will appear before the jury on April 21st.
Those selected are not required to accept the investment. No conditions have been determined regarding how the investment will be distributed. It is stated in the frequently asked questions section of the contest: “Investment amounts and conditions will vary according to the company.”
Although it is not yet clear how many projects will be selected among the 30 finalists, it was stated that the total investment could be more than $ 1 million.
Judges include Ashton Kutcher and Guy Oseary, co-founders of Sound Ventures, Billionaire Mark Cuban, owner and billionaire NBA team Dallas Mavericks, renowned rapper Snoop Dogg, EDM artist 3LAU, NFT investors Whale Shark and Metakovan, and Scalar Capital Co-Founder Lina Xie. taking.