Venture Capital Funds secure investment in Algorand-based Al Goanna NFT series
The Al Goanna NFT series has received investment from multiple high-profile venture capital and blockchain funds, signifying the beginning of a wider long-term investment strategy by these parties into Algorand based NFTs.
The deal saw a total of 24 Al Goanna NFTs purchased by the various funds including Meld Ventures, Valhalla Capital, Algopulse, and Eterna Capital.
As part of the investment, each party is required to hold their NFTs for at least 12 months, demonstrating their confidence in the long-term growth of the Algorand eco-system.
Since launching in September 2021 the Al Goanna NFT project has set a new benchmark for Algorand NFTs. The combination of high-quality artwork and an innovative roadmap has led to the development of an engaged network of community support.
Inspired by Algorand’s carbon negative approach, the project has a strong social awareness component focused on driving real-world impacts. Through their partnership with Australian-based company Carbon Neutral, the project has supported the planting of approx 17,000 native trees and shrubs in the Yarra Yarra Biodiversity Corridor, South West Australia. As part of this deal an additional 10,000 trees will be added taking the project’s total to over 27,000.
Al Goanna Project Lead Benji expressed his excitement about the investment for the future of NFTs on Algorand as well as the positive impact it will make through environmental initiatives.
“We are excited to continue to play our role in the development of Algorand NFTs and help drive future innovation within the space,” said Benji.
“I’m thrilled that following this investment we will have contributed to the planting of over 27,000 trees, driving real-world impact and helping to change the narrative on green NFTs.”
Algorand based NFTs have enjoyed significant growth in recent months with other high-profile series emerging alongside Al Goanna such as Yieldlings, Algo House and Algobots.
Meld Ventures Co-founder AJ Milne said that this is set to be the first of many Algorand based NFT projects the firm will invest in over the coming months as the ecosystem continues to grow.
“It has been an incredible period of innovation in NFTs across Algorand, so much of this has been led by the Al Goanna series,” Milne said.
“We are excited to continue to support founders and creators in the marketplace.”
Eterna Capital Co-founder Andrea Bonaceto expressed the group’s confidence in the Al Goanna series as a blue-chip NFT project acknowledging the level of community engagement and positive environmental impacts.
“At Eterna Capital we are looking to support the growth of the NFT ecosystem on Algorand. We consider Al Goanna one of the best executed NFT collectible projects on Algorand. The community is really behind this initiative. We do support very much the pledge to plant trees for every NFT created as the future for NFTs should be carbon negative.”
Valhalla Capital co-founder James Park believes that alongside the launch season of Algorand DeFi products in the spring, NFT projects such as Al Goanna will play a vital and complementary role in building strong communities and showcasing the potential of the blockchain platform.
“NFTs on Algorand are just getting started, and the Al Goanna project is unparalleled in community engagement, developing novel staking & world-building mechanics, and setting an example in how NFT art can positively impact the world.”