NFT startup Artfi raises $3.26 million in funding round at a valuation of $100 million
- ByStartupStory | July 27, 2022
Artfi, an NFT (non-fungible token) firm named said that it had secured $3.26 million at a valuation of $100 million in a funding round that was spearheaded mainly by private investors. Sheikh Hend Al Qassemi, a member of the Sharjah royal family, Raza Beig (Director of Landmark Group, UAE), and a number of angel investors participated in the round.
The business plans to use the additional funding to grow its staff and create an NFT marketplace for fine arts NFTs. In August, the business plans to introduce its first offering of fine art NFT. The goal is to establish a museum in the metaverse where the artwork will always be available.
Artfi’s founder and CEO, Asif Kamal said, “Artfi was founded with the goal of democratising access to the arts. With Artfi, we are enabling the possibility of fictionalising works of art into 5,000–10,000 pieces rather than selling a single artwork to a single buyer. Therefore, by democratising it in this manner, everyone will have access to the most exclusive asset class through NFTs for fractional ownership in a painting.”
About Artfi
Asif Kamal founded Artfi, creating a platform for the trade of fine arts and fractionalizing NFT ownership. Sacha Jafri and VS Gaitonde’s works have been incorporated into the startup. Artfi was in 2021 in Dubai, challenging the traditional methods of purchasing and selling art by bringing the fine arts community to the blockchain. In the past, only a select few have had the opportunity of collecting art.
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