A web3 startup making NFTs of Picasso and M F Husain art, receives funding
Artfihas raised a private funding round of $3.26 million.
- Retail investors can now own blue-chip artworks of
Picasso, VS Gaitonde, M F Husain, Sacha Jafri, Banksy among others.
- The global art market has an estimated value of $65 billion.
AdvertisementArtfi, a Dubai-based blockchain
Founded by art connoisseur
“Artfi was launched with a vision to make art accessible to everyone. Each art piece that we bring and fractionalize into 5-10k NFTs will be priced at the real value of art with predefined coordinates and fraction number, unlike super inflated
It is building fine arts NFTs which represent iconic blue-chip artworks of world-renowned artists like Picasso, VS Gaitonde, M F Husain, Sacha Jafri, Banksy among others. Blue-chip artworks are made by renowned artists.
The funding comes when NFT transaction activity has declined from $3.9 billion in February 2022 to less than $1 billion in March 2022.
“This is an opportunity for people to now diversify their portfolios from stocks, fixed deposits and invest in one of the largest asset classes that have outperformed all these traditional investments for over 30 years,” said Asif Kamal, founder and CEO of Artfi.
The global art market has a total estimated global sales of $65 billion, according to Statista. The fine art fintech company is also gearing up for whitelisting of its offerings from August — which means users get guaranteed early access.
Popular on BI
- SIMPLY PUT: What happened before India got Freedom@Midnight
- Here’s how much banks have increased home loan interest rates
- Avatar 2, Black Panther 2, Ant Man — Here is a complete list of Hollywood movies expected to hit Indian theaters in the next 6-7 months
- Qmin has been profitable business for IHCL from day one, says Jehangir Press
- India's foreign exchange reserves fall to $573 bn