Still from '89 seconds Atomized' (2018) collaboration with artist Eve Sussman
Curated NFT art platform Snark.art raises $1.5m in seed round
Funding will be focused on the continued development of innovative art projects and launching its own token, as well as improving the platform
Snark.art's position as a strictly curated art platform with a focus on quality rather than quantity has been rewarded by $ 1.5m funding from Alphemy Capital.
The funding will be used to create innovative digital art projects, continuing a strong line of collaborations with artists including Eve Sussman, Duke Riley and Tommy Hartung, as well as launching its own token.
Unlike other platform tokens, Snark. art will keep the focus on curation, having identified this as one of the missing links in connecting quality artists with serious collectors, and one of the factors of the market slow-down.
Andy Alekhin, co-founder and CEO of Snark. art says:
Snark.art is the perfect platform for those who feel exhausted from the flood of uncurated NFTs on the market. We believe that blockchain as a technology could transform art practice and produce new types of artworks.
Despite the cool-down of NFT sales in the spring of 2021, investors are looking for strong platforms to support, seeing the long term value of the digital art market.
During the recent hype of NFTs, crypto art collectors have seen the market flooded with new artworks, resulting in a near-impossible task of finding strong artists in an increasingly open marketplace.
Snark.art's mission is to bridge the traditional and crypto art communities by helping traditional artists to leverage blockchain technology and NFTs in their work as a way to reach a wider audience and explore a new space within their practice.
This seed round shows investors agree with Snark. art's drive for a longer term vision of the NFT market, where strong artists will still be the main driver of the direction of art on the blockchain.
Digital NFT arthouse Snark.art raises $1.5 million in new seed round