TRAX Crypto News: $2.9M Raised in Decentralized Funding Round
TRAX, a London-based Web3 music startup, has successfully raised a $2.9 million decentralized funding round on the Internet Computer (ICP) blockchain. Following the completion of the raise, TRAX will operate as a decentralized autonomous organization (DAO). Holders of TRAX’s new governance token, TRAX, will democratically control it. The funds will stay in TRAX DAO’s treasury, allowing TRAX holders to decide how best to utilize them.
TRAX completed its raise on 23 December 2023, amassing a treasury of over 314,000 ICP, or approximately $2.9m at the time of the raise. Following price action, on January 15, the treasury was valued at approximately $4 million. TRAX is a content aggregator and social marketplace helping artists build a digital space for their superfans. Its goal is to give artists the opportunity to grow their communities and increase revenue through exclusive content and events. Fans are naturally more partial to supporting their favorite artists, but major music platforms have yet to reflect this nuance in their algorithms and pricing structure.
KuCoin Labs Partners with ETGM to Advance BTC Ecosystem
KuCoin Labs, the KuCoin investment and incubation program, has partnered with ETGM, a digital currency project “designed to explore new frontiers in blockchain technology.” This collaboration will drive advancements in the Bitcoin ecosystem, improve user experience, and broaden access to blockchain technologies. ETGM has developed a multi-chain inscription bot on Telegram, aiming to provide users with a multifunctional platform that enables inscriptions and aggregated transactions on major blockchains, including Bitcoin, Ethereum, Polygon, Solana, and Cosmos. The bot is intended to be a one-stop solution for easy access and management of assets across various blockchain platforms. It also actively promotes interaction and collaboration among community members through interactive activities and reward mechanisms.
Bitget Promotes Gender Diversity in Web3 with $10 Million Commitment
Crypto exchange Bitget unveiled the Blockchain4Her initiative aimed at promoting gender diversity and inclusivity in the blockchain industry, with a $10 million commitment. Despite the industry’s progress and increasing inclusivity, significant gender bias persists, as revealed by a study conducted by Bitget. The study showed that female-led blockchain startups secured only 6% of the total funding. In response, Bitget announced the Blockchain4Her initiative, including incubation programs for female entrepreneurs, pitch competitions for female-founded startups, and the Women in Blockchain Summit & Awards experience. This initiative will also feature industry leaders as ambassadors to support and promote gender diversity in the blockchain space.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
