ALL.ART Protocol Raises $4.5M to connect NFT economy with metaverses
ALL.ART Protocol is thrilled to announce that it has successfully closed a private funding round, raising $4.5 million to create the necessary infrastructure for integrating the next generation of NFTs into metaverses. The funding round was led by Delphi Ventures. Other investors included Solidity Ventures, Solana Ventures, Huobi Ventures, SolarEcoFund, SkyVison Capital, NGC, Infinity Ventures Crypto, CoinUnited, Ausvic Capital, Prometheus Labs, GSR, Banter Capital, Ox Ventures, Solanium, Wave7, SMO Capital, Bitcoin Addict, Octopus Crypto Capital, Spark Digital Capital, Legion Ventures, Paribus, Alves Ventures, and 1010 Capital.
We have seen explosive innovation in the NFT industry and an increasing number of creators adopting new business models in recent months. Passionate communities are forming around these projects fostering creativity and not being afraid to engage and experiment. ALL.ART wants to help accelerate this innovation and use the funds raised to advance the protocol and continue to grow the ecosystem around it. We will further develop additional products, such as our open NFT marketplace SolSea and our virtual exhibition platform VR-All-Art, creating the perfect springboard for collectors and creators to dive into metaverses.
Jeremy Parris of Delphi Digital shared his thoughts on the project —
“ALL.ART Protocol consists of a team of seasoned veterans who have the vision and expertise to bootstrap an ecosystem that will unlock the next wave of innovation in the Solana community. Through SolSea and the NFT-PRO standard they introduce, they’ll help to usher in more utility and innovation for all creators in the space which will help pave the road towards the Metaverse. Through their network and what they’ve already proven and delivered, they are positioning themselves to be leaders in the NFT space.”
As more and more people realize the potential of digital ownership, we expect to see a growing need for a more expansive infrastructure to handle various metadata requirements and protocols across industries. This includes everything from music, movies, games, sports to traditional art and museums. Digital ownership will be the crucial component of this complete immersion into metaverses where everyone will be able to own, share, and trade digital items as NFTs. ALL.ART Protocol is building this infrastructure layer on top of the Metaplex NFT standard to handle the next level of metadata requirements to meet this need. We can facilitate the transformation while working for various industries, starting with arts and culture, to replace the traditional way of doing business and put more power in the hands of creators.
ALL.ART is a growing universe of standards, protocols, projects, and applications that will significantly improve the way users create and interact with NFTs, helping stakeholders transform their businesses. We started with the NFT-PRO standard, which includes licensing rights for NFTs, and have successfully launched a new type of minting on SolSea, our open NFT marketplace on the Solana blockchain. Another product of the ALL.ART ecosystem is VR-All-Art, a platform that allows users to enter a metaverse of virtual galleries and museums as avatars and purchase NFTs in virtual exhibitions. Next, we are developing new liquidity protocols for NFTs that give creators even more power.
Another essential step for the ecosystem is our collaboration with the Metaplex Foundation. ALL.ART is building upon the base infrastructure and expanding the existing NFT standard on Solana with upgraded metadata and ontologies. This collaboration establishes the foundation for long-term use of NFTs on Solana through licenses that regulate ownership transfer, IP rights, etc.
We want to thank our investors and advisors for their continued support in our quest to change the world as we know it with NFTs. To symbolize ALL.ART’s upcoming expansion, we have updated our visual identity in line with our vision to provide a foundation for the next wave of collectors and creators from various sectors and niches to enter the NFT space. Our goal is to create the architecture for future creators to build the pillars of a new industry.