Ashton Kutcher and Snoop Dogg join new NFT pitch competition

·1-min read

Ashton Kutcher and talent manager Guy Oseary are joining forces with Snoop Dogg to offer up $1 million (£719,000) in investments for a new virtual non-fungible token (NFT) competition.

Together with Shark Tank mogul Mark Cuban, the group will listen to live virtual pitches of innovative business ideas in an effort to diversify the rapidly-growing digital asset industry.

NFTs: The Pitch will also feature known heavyweights in the NFT and crypto currency field on the judging panel, with applications open until 12 April, ahead of the competition's launch on 21 April.

In a statement, Oseary, who co-founded venture capital fund Sound Ventures with Kutcher, said: "Throughout my career I've researched, invested in, and even personally incubated innovative ways to help artists reach their full potential."

He went on: "NFTs are a groundbreaking chapter for talent to continually protect and monetise their IP (intellectual property) via smart contracts, and have applications that touch all categories."

According to the Sound Ventures’ NFT site, the judges are looking to diversify the ideas and people in the NFT space, seeking out anyone “who is innovating with NFTs whether it’s just an idea or a product in market,”with a particular focus on the smaller players who will lead to long-term NFT adoption over the coming decades. Investment amounts and terms will vary by company.