Exchange Art is the Home of Art on Solana, fully supported by the community to propel and grow the creator economy
—Alex Fleseriu, CEO, Exchange Art
LONDON, UK, Sept. 7, 2022 /EINPresswire.com/ — Exchange Art, the top-selling digital art marketplace on Solana, today announced the completion of a 3 round, $2 million. Exchange Art is community supported, with over 30 angels and VCs.
Notable entities supporting Exchange Art are Layer One Ventures, Big Brain Holdings, Cultur3 Capital, Vandelay Investments and Cozomo de’ Medici with the participation of notable Solana Community Angels.
Exchange Art democratizes the $64 billion+ art market by being an open and inclusive platform and by solving a historical problem: the provenance of art. Collectors are able to verify token provenance and on-chain ownership changes. Exchange Art also allows artists to sell their work to a global audience, for a fraction of the cost of a traditional gallery: just 2.5% per sale, compared to 50-70% on average.
Artists are leveraging Art Exchange and its impressive collector base as both a distribution and marketing channel to reach new and growing audiences globally; Exchange Art posts double-digit monthly growth.
Exchange Art paid out more than $11 million to creators, with numbers growing at a rapid rate month-over-month. An impressive 40% of creators have made at least one sale on the platform, with native Solana artist John Lê completing 32,000 Solana sales (equivalent to $1 million at the time of writing) and artists Established Ethereum entering Solana at similar prices to Ethereum. A notable example is Cath Simard, one of the best-selling female digital artists, whose opening piece closed at 1,300 Solana (about $40,000 at the time of writing). Artists with no blockchain experience such as Laura, known as “iamlaurael”, also flocked. Combining storytelling with art, she managed to reach 3,408 Solana in revenue (over $100,000 at the time of writing).
The company will use the new capital to support product development and grow the base of artists and collectors, as well as support current artists selling on the platform to be exhibited in galleries in the United States and Europe, in cities ranging from Miami, Hamptons, Lisbon and London. The company has already successfully managed pop-up galleries on two continents this year in New York, Miami, London, Paris, Barcelona, Stockholm and the Hamptons, NY.
“The Exchange Art team has the passion, vision and deep love of fine art AND technology to build what we believe will be the next digital revolution, fine art built with digital provenance. and running on Solana rails designed for a global market.
I have worked closely with the team over the past few months and their vision of what is possible for the future of the digital fine art market for global artists and collectors (many millions of whom previously had no no access to these markets) is breathtaking. and I am delighted to be able to accompany them on their journey!” said Ryan Bethencourt, Partner, Layer One Ventures.
Big Brain Holding said, “We invest in teams. The Exchange Art team is top notch and has been a strong advocate for artists since its inception. We knew right away that they were the team to dominate the fine arts market space on Solana.
Mark Streeter, Cultur3 Capital Partner, said: “Cultur3 is delighted to support the Exchange team in their mission to build and elevate fine art space on Solana. Their continued commitment to an “Artist First” building approach is perfectly aligned with our values as a company, and their ability to execute and deliver cutting-edge products and experiences to artists and collectors is truly special. We are honored to have the opportunity to continue working alongside the Exchange Art team as they continue to push the NFT space forward.
Read more about it at https://exchange.art.
About Art Exchange
The company has become Solana’s leading digital art house, fueling the economy of creators in the digital world. Launched in October 2021, the company was started by its founders for the first few months, while exponentially growing the 1/1 art market on Solana from just a handful of artists to over 6 000 artists today and exceeding 10,000 collectors on Exchange Art alone.
During the first quarter of 2022, Exchange Art was able to maintain a constant trading volume despite the drop in the digital art market. During the second quarter, the company recorded monthly growth of 20%. The third quarter saw monthly growth of 66% in July and August, with the company maintaining the 1/1 art market lead on Solana with over 80% market share.