Web3 startup making NFTs of Picasso and Hussain’s art receives funding
NFT startup Artfi plans to use the additional funding to grow its staff and create an NFT marketplace for NFTs related to the fine arts
By Shashank Bhardwaj
Blockchain NFT ecosystem Artfi, located in Dubai, earned $3.26 million in funding at a $100 million valuation. Sheikha Hend Al Qassimi, a member of the Sharjah ruling family, and Raza Beig, director of Landmark Group, are among the investors who took part in this round.
This firm, founded by art enthusiast Asif Kamal, will focus on producing beautiful art NFTs. With this money, Artfi will develop its team, products, and a specific marketplace for fine art NFTs.
Artfi’s founder and CEO, Asif Kamal, stated, “Artfi was launched with a vision to make art accessible to everyone. With Artfi, we are making it possible that rather than selling one painting to one individual, we will utilise blockchain technologies to fractionalised the piece of art into 5,000 to 10,000 pieces. So democratizing it this way will expose people to the most exclusive asset class as fractional ownership in a painting as NFTs.”
Reputable artists produce works of art that are in demand. The platform plans to introduce its first offering of fine art NFT in August. It is trying to build a museum where the art collection will always be available in the metaverse.
The writer is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash