Exchange Art Raises $3.2M to Accelerate the Adoption of Digital Art

Alternate Artwork is the Home of Artwork on Solana, totally backed by the neighborhood to energy and develop the creator economic system

LONDON, UNITED KINGDOM, September 7, 2022 /EINPresswire.com/ — Exchange Art, the best-selling digital artwork market on Solana, as we speak introduced the completion of a $3.2M seed spherical. Alternate Artwork is community-backed, with greater than 30 angels and VCs.

Notable entities supporting Alternate Artwork are Layer One Ventures, Massive Mind Holdings, Cultur3 Capital, Vandelay Investments, and Cozomo de’ Medici with participation from notable angels from the Solana neighborhood.

Alternate Artwork democratises the $64B+ artwork market by being an open and inclusive platform and fixing a historic drawback: the provenance of artwork. Collectors are capable of confirm the token provenance and possession adjustments on-chain. Alternate Artwork additionally permits artists to promote their artworks to a world viewers, for a fraction of the standard gallery value: simply 2.5% per sale, in comparison with the standard 50-70%.

Artists leverage Alternate Artwork and its spectacular collector base each as a distribution and advertising and marketing channel to achieve new rising audiences globally; Alternate Artwork has been exhibiting double digit month on month development.

Alternate Artwork has paid over $11M to creators, with numbers which have been rising at a speedy charge month over month. A formidable 40% of creators made not 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 on 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 many 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 reminiscent of Laura, referred to as ‘iamlaurael’ have poured in as effectively. Combining storytelling with artwork, she managed to achieve 3,408 Solana in proceeds (greater than $100,000 on the time of writing).

The corporate will use the brand new capital to assist product growth and develop the artist and collector base, in addition to to assist the present artists which are promoting on the platform to be displayed in galleries within the USA and in Europe, in cities starting from Miami, Hamptons, Lisbon and London. The corporate 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 Alternate Artwork group has the eagerness, imaginative and prescient and deep love of high quality artwork AND expertise wanted to construct, what we imagine would be the subsequent digital revolution, high quality artwork constructed with digital provenance and operating on Solana rails constructed for a world market.

I’ve labored carefully with the group for the previous few months and their imaginative and prescient for what is feasible for the way forward for the digital high quality artwork marketplace for each world artists and collectors (many thousands and thousands of whom beforehand had no entry to those markets) is breathtaking and I am delighted to have the ability to again them on their journey!” mentioned Ryan Bethencourt, Associate, Layer One Ventures.

Massive Mind Holding mentioned “We spend money on groups. The Alternate Artwork group is high quality and has been relentless, since inception, in its advocacy for artists. We knew instantly that they had been the group to dominate the Positive Artwork market area on Solana.”

Mark Streeter, Associate, Cultur3 Capital mentioned: “Cultur3 is worked up to assist the Alternate group of their mission to construct and elevate the high quality artwork area on Solana. Their continued dedication to taking an “Artist First” strategy to constructing is completely aligned with our values as a agency, and their capability to execute and ship market-leading merchandise and experiences to each artists and collectors is really particular. We’re honored to have the chance to proceed working alongside the Alternate Artwork group as they proceed to push the NFT area ahead.”

Be taught extra about this at https://exchange.art.

About Alternate Artwork

The corporate has grown to the main digital high quality artwork home on Solana powering the creator economic system within the digital world. Began in October 2021, the corporate was bootstrapped by its founders for the primary months, whereas rising exponentially the 1/1 artwork market on Solana from solely a handful of artists, to greater than 6,000 artists as we speak and exceeding 10,000 collectors on Alternate Artwork alone.

Throughout Q1 2022, Alternate Artwork was capable of keep a continuing buying and selling quantity regardless of the digital artwork market taking a dive. Throughout Q2 the corporate skilled month-on-month development of 20%. Q3 introduced a 66% month-on-month development throughout July and August, the corporate sustaining the lead of the 1/1 artwork market on Solana with over 80% market share.

Larisa Barbu
Emporion Analysis Ltd
larisa@change.artwork

Alternate Artwork Hamptons Gallery