Dapper Labs, the team behind CryptoKitties’ success, recently announced its participation in the board of directors at Concept Art House, as well as a fundraising.
Concept Art House is a professional studio that provides art services for famous game companies like Activision, Kabam and Supercell.
Digital artwork is one of the most popular use cases for NFTs.
There has been a surge in the number of auctions, with numerous artworks fetching millions of dollars. Despite hype in the space, many high-profile firms have expressed strong interest in NFTs investments, the most recent being Dapper Labs.
Concept Art House Raises $25 Million
Concept Art House, the San Francisco-based company, announced that it successfully raised $25 million from leading blockchain investors and NFT platforms including Gala Games, Animoca, Protocol Labs, Fabric, Hashkey, Liberty City, and many others.
The heat in the NFT market shows no signal of cooling, and more money is pouring into the sector. Uniqueness and authenticity are qualities that make them extremely helpful in a variety of fields, including real estate, music, gaming, and movies.
Mik Naayem, Chief Business Officer & Cofounder of Dapper Labs will join the board at Concept Art House, together with other board members of CAH: CEO James Zhang, Chairman Matthew Le Merle, and Jenny Chen.
Roham Gharegozlou, the CEO of Dapper Labs shared his thoughts, saying:
“We’re psyched to be extending our relationship with James and the talented team at CAH and excited to be both leading this round and joining the Board, which is a first for us. We believe that CAH will continue to be a creative powerhouse in the digital content and NFT arena, which we know first hand from our working relationship and collaboration on many exciting projects including our upcoming UFC digital collectibles experience launching on Flow.”
One factor that looks appealing to investors is CAH’s diverse offerings. The firm has attracted the attention of both gaming and art fans when launching NFTs in collaboration with Gala Labs.
NFTs are a Game Changer
Winds of change are rushing through the world of digitization, notably in the fields of graphics, motion pictures, and cinema. In comparison to other blockchain movements, the NFTs space is still in its early stages and can likely grow a lot from here.
There has been a lot of talk about NFTs, but one thing is undeniable: they have changed the way artists sell their works, as well as how art fans and collectors interact with art.
NFTs open up a new market for artists and creators all around the world to sell their work directly to the public without the involvement of a third-party. Simultaneously, they tackle the problem of fakes, which have long plagued the art world.
In essence, NFTs enable artists to add a permanent and unique digital signature to digital artwork before transferring it to the blockchain.
For buyers, NFTs are a way to lend financial support to favorite artists. Buying an NFT gives a person the opportunity to own a work of art that can be easily transported, and stored in the metaverse.
Many of the first movers in the NFT space will be well placed to expand into other areas that NFTs may work to support.
Recorded media, like videos and music – may be another area that is seriously attractive for NFT devs. Instead of streaming services, like Netflix or Spotify, all that media could be sold in NFT form, and deliver a lot of value to both media creators, and the fans.
There is probably a good reason why so many VC firms are looking at NFTs – the potential for the format is hard to overstate.
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Author: Nicholas Say