Web3 Music Startup TRAX Raises $2.9M in Decentralized Funding Round + More Crypto News

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Get your day by day, bite-sized digest of blockchain and crypto information – investigating the tales flying beneath the radar of as we speak’s information.

On this version:

  • TRAX Crypto Information: $2.9M Raised in Decentralized Funding Spherical
  • KuCoin Labs Companions with ETGM to Advance BTC Ecosystem
  • Bitget Promotes Gender Range in Web3 with $10 Million Dedication

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TRAX Crypto Information: $2.9M Raised in Decentralized Funding Spherical

TRAX

, a London-based Web3 music startup, has efficiently raised a $2.9 million decentralized funding spherical on the Internet Computer (ICP) blockchain.

According to the press launch, following the completion of the elevate, TRAX will function as a decentralized autonomous group (DAO).

Holders of TRAX’s new governance token, TRAX, will democratically management it. The funds will keep in TRAX DAO’s treasury, permitting TRAX holders to resolve how finest to make the most of them.

TRAX accomplished its elevate on 23 December 2023, amassing a treasury of over 314,000 ICP, or roughly $2.9m on the time of the elevate.

Following value motion, on January 15, the treasury was valued at roughly $4 million.

TRAX is a content material aggregator and social market serving to artists construct a digital house for his or her superfans. Its purpose is to provide artists the chance to develop their communities and enhance income by means of unique content material and occasions.

“Followers are naturally extra a fan of supporting their favourite artists, however main music platforms have but to mirror this nuance of their algorithms and pricing construction,” the announcement argued.

KuCoin Labs Companions with ETGM to Advance BTC Ecosystem

KuCoin Labs

, the KuCoin funding and incubation program, has partnered with ETGM, a digital foreign money challenge “designed to discover new frontiers in blockchain expertise,” said the press launch.

This collaboration will drive developments within the Bitcoin ecosystem, enhance consumer expertise, and broaden entry to blockchain applied sciences, it stated.

ETGM has developed a multi-chain inscription bot on Telegram. It goals to supply customers with a multifunctional platform that permits inscriptions and aggregated transactions on main blockchains. These embody Bitcoin, Ethereum, Polygon, Solana, and Cosmos.

“This bot is meant to be a one-stop resolution for straightforward entry and administration of property throughout varied blockchain platforms,” stated the announcement.

It added that ETGM additionally actively promotes interplay and collaboration amongst neighborhood members by means of interactive actions and reward mechanisms.

Bitget Promotes Gender Range in Web3 with $10 Million Dedication

Crypto alternate Bitget unveiled the Blockchain4Her initiative geared toward selling gender range and inclusivity within the blockchain business, with a $10 million dedication.

Per the press launch:

“Regardless of the business’s progress and growing inclusivity, important gender bias persists.”

Bitget just lately carried out a examine that exposed restricted gender range within the blockchain funding market. It confirmed that female-led blockchain startups secured solely 6% of the full funding.

“In a forward-thinking and world blockchain-based financial system, the prevalence of gender bias considerably proscribing alternatives is an unacceptable problem,” the alternate stated.

As a part of the Blockchain4Her initiative, Bitget will launch incubation applications for feminine entrepreneurs. They are going to present complete help, mentorship, and assets, empowering ladies to navigate and succeed within the blockchain business.

Moreover, Blockchain4Her will host pitch competitions for female-founded startups, providing them a platform to showcase their improvements and safe potential investments.

Moreover, it is going to characteristic an expertise referred to as Girls in Blockchain Summit & Awards, serving as a platform to have a good time and acknowledge the excellent achievements of ladies within the blockchain house.

Lastly, Bitget will invite business leaders to hitch as ambassadors for the Blockchain4Her program.

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