Founded in 2015, Verisart, the pioneer of blockchain-based certification for the arts and collectibles market, has raised $2.5 million in seed financing. The round was led by Galaxy Digital EOS VC Fund with further investment from existing investors Sinai Ventures and Rhodium. The funding will enable Verisart to expand its commercial platform for authentication and further contribute to the art world.
Co-Founder and CEO Robert Norton said:
“With this new round of funding, we’re able to scale our business and ramp up our partnership integrations. The artworld is quickly realizing that blockchain provides a new standard in provenance and record-keeping and we’re looking forward to extending these services to the industry.”
In recent years, Verisart has since partnered with several art industry stakeholders, including eBay, Art Systems and the Design and Artists Copyright Society (DACS) as well as working with some of the world’s best-known artists including Ai Wei Wei and Shepard Fairey to certify their works of art.
In 2018, Verisart won the ‘Hottest Blockchain DApp’ award at The Europas, the European tech startup awards. In 2019, Verisart became the first blockchain certification provider on Shopify. The Verisart Shopify app is now available to over 600,000 stores as an easy way to offer digital certification for limited editions, artworks and collectibles.
The funding will go towards extending the product and engineering team and launching a suite of premium services aimed at artists, galleries and collectors. The company recently appointed Paul Duncan, formerly the founding CTO of Borro, the online lending platform for luxury assets, to lead the engineering team. Further senior management announcements are expected to follow.
Verisart is a founding member of the Arts Innovators Alliance, an alliance of forward-thinking art businesses committed to advancing the art industry through innovation and technology.
- Smartlands to Digitise Own Equity; Unveils Plans For Security Token Offering in the US - December 9, 2019
- ShareRing Partners with Thailand’s new E-Visa System: Mainstream Blockchain Adoption - December 9, 2019
- ELEV8CON adds BBVA, Bumble Bee Foods, State Street, Ticketmaster to Lineup for Enterprise Blockchain and Digital Asset Conference - December 9, 2019
- Mintdice – Playing it Fair with Blockchain - December 9, 2019
- Juventus Become The First Football Club In The World To Be Tokenized - December 3, 2019
- London’s Travala.com Teams Up With Amsterdam’s Booking.com In Massive Crypto Travel Deal - November 28, 2019
- High-Powered Group of Legal Experts Determine Cryptoassets and Smart Contracts Legal Under UK Law - November 21, 2019
- Hyperledger Adds Eight New Members – Rolls out Updates - November 21, 2019
- Failed ICO, Token Sale Project SNIPs Acquired by Sonos for $37.5 Million - November 21, 2019
- Algorand Launches Protocol Upgrade, Setting the Stage for the Next Wave of Distributed App Development - November 21, 2019
- ArcBlock Partners with Ride-Sharing Service GoFun to Develop Services and DApps on Blockchain - November 20, 2019
- Hacktivist Phineas Fisher Cracks Cayman National Bank and Trust – Offers $100,000 Bitcoin/Monero Bounty To Other to Hack Banks, Big Companies - November 20, 2019
- Graph Blockchain to Acquire Shroom Street – Cracking Psychedelics Market - November 20, 2019
- OpEd: Burned By Bitwala – Visa Card Money Gone When Wavecrest Wound Down - November 19, 2019
- Chinese Military Eyes Blockchain Technology for Rewards Programme – Boosting Training and Gamifying System - November 18, 2019
- FinCEN Boss: American Regulators to Strictly Enforce AML in Crypto Industry - November 18, 2019
- Visa’s Rolls Out New Blockchain LucidiTEE – Tackles Concerns related to misuse of sensitive user data, when shared with third-parties. - November 18, 2019
- Utrust Joins Forces with Alternative Airlines for Flight Bookings with Crypto - November 13, 2019
- Dark Web Drug Dealer Pleads Guilty To Using Cryptocurrency to Launder More Than $19 Million - November 13, 2019
- Dutch Police Bust CEO of Blockchain Game Firm, Komodore64 – €78 million Gone? - November 13, 2019
Also published on Medium.