First, if we talk about the NFT sector NFTs are now used to commoditize digital assets in art, music, sports and other popular entertainment.
A lot of NFTs are part of the Ethereum blockchain; however, other blockchains can implement their own versions of NFT. in 2020, the market value of NFT tripled, exceeding $ 250 million.
However, after the negative decline of the current market, the NFT sector was also affected by this situation, and as of Wednesday, June 15, 2022, according to CoinMarketCap data, the total market value of the unique token (nonfungible token, NFT) ecosystem fell to $ 12 billion.
Artfi was founded by Asif Kamal in 2021 and set out with the vision of making art accessible to everyone.
Their HQ is in Dubai.
Artfi will use this capital to create a dedicated and circulating market for fine arts NFTs and product and team development.
Artfi, valued at $100 million, was awarded $3.6 million in funding by Sheikha Hend Al Qassemi, a member of Sharja’s ruling family, Raza Beig, director of Landmark Group, UAE. With the news of this fund, Artifi attracted attention.
This initiative was founded by Art Expert Asif Kamal. One of their ideologies is to produce products focused on creating Fine art NFTs. Artfi will use this capital to create a special and unique market for product and team development with its NFTs in line with their beautiful ideologies.
“Artfi, one of its main ideologies is to make art easy and accessible to everyone.
Every artwork we bring and divide into 5-10 thousand NFTs will be priced at the real value of the art with predefined coordinates and number of fractions, unlike the super inflated JPEG NFTs that are crashing badly today,”
This is an opportunity for people to diversify their portfolio from stocks and fixed deposits and invest in one of the largest asset classes, which has surpassed all these traditional investments for more than 30 years,” said Asif Kamal, founder and CEO of Artfi.
According to Statista, the total estimated global sales of the global art market are $65 billion. The fine arts fintech company is also gearing up to whitelist its offerings starting in August. This means that users are guaranteed easy access.