Spotify Investor Contributes to Blockchain Art Registry’s $7 Million Fund Raising
Artory, a blockchain-based art registry startup has reportedly raised over $7 million in Series A funding round from an early Spotify investor among others.
Artory, ledger of which enables users to trace provenance and title data, as well as record sales of works of art — has reportedly secured $7.3 million from a group of investors, including private investing firm 2020 Ventures, which backed Swedish audio streaming platform Spotify, American logistics company Postmates, and luxury goods resale platform The RealReal.
The founder of the project, Nanne Dekking, said that the funds will be allocated for further improvement of the registry’s data and development of the platform’s functionality. Dekking said that they are “are building something that has to be vetted, accurate and easily searchable to show the depth of information behind every artwork.”
The general partner of 2020 Ventures, David Williams, told the Art Newspaper that the firm is fond of platforms that “open large markets to a broader range of participants and transactions.”