Allora Labs, formerly known as Upshot and focused on NFT appraisals, has raised $3 million in a strategic funding round ahead of the mainnet launch of its decentralized artificial intelligence network.

Investors in the funding round included Archetype, Delphi Ventures, CMS Holdings, ID Theory and DCF God, Allora Labs said Monday. The firm began raising funds for the round in March and closed it earlier this month, co-founder and CEO Nick Emmons told The Block. The round was structured as an equity round like all of Allora's previous rounds, Emmons said. He declined to comment on the valuation.

Allora had previously raised $32 million in total funding under the brand Upshot, when it was developing an NFT appraisal platform. Its last funding round was a $23.3 million Series A2 in March …