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Exchange Art is the House of Art on Solana, absolutely backed by the neighborhood to energy and develop the creator economy
— Alex Fleseriu, CEO, Exchange Art
LONDON, UNITED KINGDOM, September 7, 2022 /EINPresswire.com/ — Exchange Art, the best-selling digital artwork market on Solana, right now introduced the completion of a $3.2M seed spherical. Exchange Art is community-backed, with greater than 30 angels and VCs.
Notable entities supporting Exchange Art are Layer One Ventures, Big Brain Holdings, Cultur3 Capital, Vandelay Investments, and Cozomo de’ Medici with participation from notable angels from the Solana neighborhood.
Exchange Art democratises the $64B+ artwork market by being an open and inclusive platform and fixing a historic downside: the provenance of artwork. Collectors are in a position to confirm the token provenance and possession modifications on-chain. Exchange Art additionally permits artists to promote their artworks to a worldwide viewers, for a fraction of the conventional gallery price: simply 2.5% per sale, in contrast to the typical 50-70%.
Artists leverage Exchange Art and its spectacular collector base each as a distribution and advertising and marketing channel to attain new rising audiences globally; Exchange Art has been exhibiting double digit month on month development.
Exchange Art has paid over $11M to creators, with numbers which have been rising at a speedy fee month over month. An spectacular 40% of creators made no less than one sale on the platform, with Solana-native artist John Lê topping up 32,000 Solana in gross sales (the equal of $1M at the time of writing), and established Ethereum artists making an entry on Solana at related costs as on Ethereum. A notable instance is Cath Simard, one of the best-selling feminine digital artists, whose opening piece closed at 1,300 Solana (approx. $40,000 at time of writing). Artists with no blockchain expertise resembling Laura, often known as ‘iamlaurael’ have poured in as properly. Combining storytelling with artwork, she managed to attain 3,408 Solana in proceeds (greater than $100,000 at the time of writing).
The firm will use the new capital to help product growth and develop the artist and collector base, in addition to to help the present artists which might be promoting on the platform to be displayed in galleries in the USA and in Europe, in cities starting from Miami, Hamptons, Lisbon and London. The firm already ran profitable pop-up galleries on two continents this 12 months in New York, Miami, London, Paris, Barcelona, Stockholm, and the Hamptons, NY.
“The Exchange Art team has the passion, vision and deep love of fine art AND technology needed to build, what we believe will be the next digital revolution, fine art built with digital provenance and running on Solana rails built for a global market.
I’ve worked closely with the team for the last few months and their vision for what is possible for the future of the digital fine art market for both global artists and collectors (many millions of whom previously had no access to these markets) is breathtaking and I’m delighted to be able to back them on their journey!” mentioned Ryan Bethencourt, Partner, Layer One Ventures.
Big Brain Holding mentioned “We invest in teams. The Exchange Art team is top quality and has been relentless, since inception, in its advocacy for artists. We knew right away that they were the team to dominate the Fine Art marketplace space on Solana.”
Mark Streeter, Partner, Cultur3 Capital mentioned: “Cultur3 is excited to support the Exchange team in their mission to build and elevate the fine art space on Solana. Their continued commitment to taking an “Artist First” method to constructing is completely aligned with our values as a agency, and their skill to execute and ship market-leading merchandise and experiences to each artists and collectors is actually particular. We are honored to have the alternative to proceed working alongside the Exchange Art crew as they proceed to push the NFT house ahead.”
Learn extra about this at https://exchange.art.
About Exchange Art
The firm has grown to the main digital positive artwork home on Solana powering the creator economy in the digital world. Started in October 2021, the firm was bootstrapped by its founders for the first months, whereas rising exponentially the 1/1 artwork market on Solana from solely a handful of artists, to greater than 6,000 artists right now and exceeding 10,000 collectors on Exchange Art alone.
During Q1 2022, Exchange Art was in a position to preserve a continuing buying and selling quantity regardless of the digital artwork market taking a dive. During Q2 the firm skilled month-on-month development of 20%. Q3 introduced a 66% month-on-month development throughout July and August, the firm sustaining the lead of the 1/1 artwork market on Solana with over 80% market share.
Larisa Barbu
Emporion Research Ltd
[email protected]
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