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- 1 Web3 firm Artifact Labs that holds historic records on blockchain has closed a $3.25 million funding round.
- 2 Hong Kong’s South China Morning Post created a new company Artifact Labs last year.
- 3 MARA stock price rises by 7.5% in the intraday session.
Artifact Labs raised 3.25 million dollars from blue pool capital and others. Alibaba founders Jack Ma and Joe Tsai have invested in Blue Pool. Animoca Ventures also participated in this pool. In the release of its plans, Animoca Ventures said that it intends to use the funds to expand the company’s operations. Also, focusing on an expansion in developers.
This does not mean creating new IPs or NFT projects. Instead, it’s utilizing Web3 to increase engagement. They utilize historically important collections.
Blue Pool and Animoca are among the contributors
Web3 Firm Artifact Labs report a huge close of 3.25 dollars in funding. This funding round was led by blue pool capital, and America and other co-ventures participated.
CEO of Artifact Labs, Philip Pon, quoted in the release that they want to generate awareness about the histhistoricalnts in the younger public. So that they can support these organizations, for this, they are also collecting the data through NFTs.
The co- founco-foundercutive chairman of Animoca Brands, Yat Siu, expressed his views on the strategic fundraising round as “ comprising several of the most respected institutional investors in the world, and we are honoured by the continued support from existing investors.” He also stated that Animoca Brand would give prudent advice and future outlook on data, internet accounts contractual and property rights in the Web3 industry.
When discussing The Amonica brand, the undtheesponse is the foremost blockchain technology group. It is the well Nowell-know gaming world too. They also innovate the decentralized gaming awards and monetization in video games for the emerging open metaverse.
Hong Kong’s South China Morning Post (SCMP) initially nurtured the Artial Labs.
The SCMP is a designated very old news deliverer. It is the first preference of many in this field. The headquarters of SCMP is in Hong Kong. It has a growing correspondence staff in Asia and America.
The SCMP then 2021 ugurated ARTIFACT, a non-fungible token (NFT) for recording historical data.
Now Artifact Labs is an independent company. It will grow the blockchain business and create value for the Post’s audience, other stakeholders, users, partners, and content creators.
In 2021 and 2022, SCMP had huge sales of NFTs on historic front pages. Some historical front page NFTs include the handover of Hong Kong to China in 1997, the death of the U.K.’s Princess Diana, the Avian flu outbreak etc.
Artifact Labs said in a release that NFT collections are the revenue stream, and the money they get from selling this service will be used to develop the technology further. Also, they will store and maintain data, evidence, and reports.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
