NFT Startup LaCollection Nets €8.78M To Create New Ways of Owning Digital Versions of Physical Artwork
Paris-based NFT startup LaCollection is on a mission to find new ways for owning digital versions of physical artwork and has successfully raised €8.78M from prominent investors.
LaCollection, an NFT based startup wants to create new ways of owning a digital version of physical artwork.
The startup works under the authentication of art and cultural institutions and offers limited digital editions of cultural and historical artworks. For instance, lithography collectors are now able to own certified digital twins of masterpieces from the world’s greatest museums, artists, and galleries. Because of its innovative business model of attaching NFTs with artwork the startup has been making big waves in the art and NFT space and has just picked up €8.78 million from leading investors. In a funding round led by Alven and witnessed the participation of Frédéric Jousset, Guillaume Houzé, Cygni Capita, Kima Ventures, and Premier Janvier Capital, in correspondence with the existing investors Thomas France (co-founder of Ledger) and Nicolas Julia (co-founder and CEO of Sorare).
One of the many reasons the startup has been successful in collecting this hefty amount of funding is because of its easy usage. So, to start the collection on LaCollection, users just have to sign up for an account and start purchasing non-fungible tokens (NFT) of paintings by Hokusai. Users can pay via simple credit cards and can also verify the ownership of NFT via the Ethereum blockchain. The startup further guarantees that each NFT is unique and scarce. In short, it is a secure and transparent way of having digital ownership.
Furthermore, the startup has also entered into an agreement with British Museum. Founded in the NFT booming year of 2021 by Jean-Sébastien Beaucamps and Fabian Langlet the startup has achieved a 7 digit revenue in just 4 months.
The startup aims to become the leading platform for new communities and collectors. As LaCollection Co-founder and CEO Jean-Sebastien Beaucamps said “Our ambition is to be the leading platform for new communities of collectors passionate about art, culture and NFTs. The combined expertise of our investors across the art and technology space puts us in a great position to accelerate our partnerships with cultural institutions, sustain our growth rate and scale our unique business model”.
The startup with its unique business model is also committed to reducing its carbon footprint. It also wants to keep sustainability as a central part of operations. Moreover, in this regard the LaCollectors also wants to use the fresh injection of funding to expedite its 60-year nature-based climate positive plan with European green tech EcoTree.green.
Furthermore, the startup will utilize the funds to develop its platform, secure partnerships with more artists and museums, and will also expand its team across the globe.
NFTs and blockchain are entering in almost every industry. And more and more startups that are inculcating blockchain and NFT are receiving a huge amount of investment.
For instance, the Finnish Blockchain StartUp Kleoverse has constructed a new way to aid people in finding jobs at DAOs on Web 3. 0. The startup aims to showcase its Proof of talent through NFTs to battle the traditional methods of job searching and has gathered funding of $1.2M. Similarly, another startup Zwya wants to incorporate NFTs in the Fintech industry gathered funding of $1M.