Artifact Labs, a Web3 firm devoted to preserving historic data on the blockchain, has efficiently closed a $3.25 million funding spherical. The NFT issuer started working independently after spinning from its guardian firm final yr.
Hong Kong-based hedge fund supervisor Blue Pool Capital led the funding spherical, with vital participation from the famend Web3 funding agency Animoca Ventures. Blue Pool Capital primarily invests the wealth of Alibaba founders Jack Ma and Joe Tsai.
Investing in Progress and Improvement
The corporate plans to make the most of the newly-acquired funds to broaden operations and improve its staff of builders. Artifact Labs first acknowledged the long-term potential of tokenizing historic artifacts after an NFT collection commemorating the handover of Hong Kong from the UK to China generated $260,000 in gross sales. This initiative made these artifacts immutable and accessible to the general public.
Origin and Notable Collaborations
Artifact Labs originated from the South China Morning Put up (SCMP), Hong Kong’s main English newspaper, acquired by Alibaba for $262 million in 2015. The corporate’s preliminary venture concerned creating non-fungible token variations of SCMP’s front pages from 1997, the yr of Hong Kong’s handover.
The rarity stage of every merchandise was decided by the importance of that day’s occasions. Since then, Artifact Labs has collaborated on notable NFT initiatives with outstanding cultural organizations reminiscent of RMS Titanic Inc and the Hong Kong Philharmonic Orchestra.
RMS Titanic Inc., the group answerable for showcasing the sunken ship’s artifacts, joined forces with Artifact Labs in February. The partnership goals to create NFTs of the ship’s relics on the blockchain.
In collaboration with RMS Titanic Inc., Artifact Labs will provoke the Titanic DAO (Decentralized Autonomous Group) as a part of their three way partnership. This may allow NFT collectors and members to contribute to imminent initiatives.
Mission to Protect and Join Historical past
As an unbiased Web3 and NFT firm, Artifact Labs focuses on constructing blockchain methods, merchandise, and platforms to serve organizations with historic, mental property.
Dedicated to the mission of “Preserving and Connecting Historical past” by blockchain, Artifact Labs empowers historic custodians to reinforce the importance of their prized property by remodeling them into “ARTIFACTs” utilizing tokenization.
