Today in Crypto: Kudo Notches $4M to Bring On-Chain Identity to Crypto; It’s Catwalk Time for Luxury Crypto Marketplace; Blockbuster Is Back as a DAO to Raise $5M
In today’s top crypto news, the metaverse took the spotlight as metaverse identity issuance protocol Kudo Money raised millions to bring on-chain identity to mainstream cryptocurrency.
Elsewhere in the metaverse, the luxury crypto marketplace UNXD is throwing a (sort of) live fashion show, complete with an after-party — and while not yet part of the metaverse, Blockbuster may be returning from the dead in the form of a crowdfunded decentralized autonomous organization (DAO).
Kudo Wants to Bring On-Chain ID to Crypto
Kudo Money raised $5 million to further its development of an ecosystem of Web 3.0 products for mainstream crypto adoption and reinventing on-chain identity. Having been backed by more than 60 venture capital firms and crypto communities, Kudo, a decentralized scoring protocol, hopes to expand the use of Unomi Passports to power on-chain identity.
To encourage positive on-chain behavior, Kudo’s system allows users to earn rewards for good on-chain behavior, which is based on their on-chain scores.
Luxury Meets the Decentralized Metaverse on the Catwalk
The blockchain-based metaverse Decentraland is teaming with UNXD, a luxury crypto marketplace, for a Metaverse Fashion Week. Attendees’ avatars can shop for virtual clothing and accessories at showcases and pop-up shops from March 24-27.
This is probably the first metaverse fashion show, but couture is no stranger to virtual worlds. Balenciaga and Gucci have sold virtual creations, while Nike is giving avatar owners the ability to design their own sneakers.
BlockbusterDAO Looking to Crowdfund a Netflix for Web3
A group of Blockbuster fans got together and formed a crypto crowdfunding mechanism called a DAO, which raised $40 million. The group is now looking to raise another $5 million to buy the video rental brand Blockbuster and make it a crowd-governed streaming movie-rental service.
BlockbusterDAO said on Twitter that its “mission is to liberate Blockbuster and form a DAO to collectively govern the brand as we turn Blockbuster into the first-ever DeFilm streaming platform and a mainstay of both the Web3 brands and products.”