A $3.25 million investment round has been completed by Web3 company Artifact Labs, which strives to preserve historical event recordings on the blockchain.
Web3 Company Artifact Labs Raises $3.25 Million in Funding Round
Blue Pool Capital took the lead in the round, and Animoca Ventures joined the funding. According to the press announcement, Artifact Labs intends to use the funds to grow business operations, with a focus on hiring more developers.
Philip Pon’s Statements
The company’s CEO, Philip Pon, spoke about the funding in a press release.
It’s not about creating new IPs for speculation – for example NFT hype projects – it’s about driving new engagement with historically significant collections by using Web3.
We want to carve new space in the younger public’s consciousness for historical brands and artifacts…while supporting these important organizations with new revenue streams to fund their preservation work, we are also solidifying immutable on-chain data preservation through NFTs.
Phillip Pon
About Artifact Labs
South China Morning Post (SCMP), a newspaper in Hong Kong, incubated Artifact Labs. The SCMP introduced the ARTIFACT non-fungible token (NFT) standard for archiving historical data in 2021.
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