2 years ago
Scarce City, a marketplace of Bitcoin-related artworks, has raised $690,420 from investors including Jason Williams, Brad Mills, Plan B Ventures, Lightning Ventures, and Fulgur Ventures.
“We’re grateful to bring bona fide Bitcoin investors connected to our squad to lend to our ngo to enactment Bitcoin civilization and adoption,” said Scarce City’s main enforcement pleb, Chris Tramount, successful a connection sent to Bitcoin Magazine.
Scarce City leverages Bitcoin technology, including the Lightning Network, to alteration auction costs and amended ratio successful its marketplace, wherever Bitcoin creation is auctioned and priced successful BTC. Buyers bid online, and the creation is delivered arsenic soon arsenic a victor is selected.
Scarce City said successful a connection that it would employment the backing proceeds to adhd much radical to its squad and amended its platform, processing its auction and marketplace functionalities further. It besides said it expects to put portion of its latest backing into expanding its media presence.
“The institution debuted its archetypal auction for Chiefmonkey’s ‘Relentless Optimism’ successful December 2020 and has since tally astir 300 auctions and facilitated implicit 1 1000 Rare Pepe marketplace transactions,” per the statement. “The level uses low-fee, instant bitcoin transactions made imaginable by the Lightning Network to under-collateralize auction bids and marketplace listings to support participants accountable.”
The marketplace aims to foster Bitcoin adoption done a taste approach. Artworks listed successful the level notation Bitcoin and its humanities moments and person constricted issuance, granting a level of rarity to the creation piece. Scarce City auctions constricted variation creation successful some carnal and integer formats.
“Bitcoiners privation to make and cod creation that represents our revolution. We usage Bitcoin tech to marque it casual to speech these goods successful a mode that’s not applicable with fiat,” Tramount added.
The platform hopes to propulsion mainstream Bitcoin adoption further by selling Bitcoin creation and memes and utilizing Bitcoin technologies.
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