.ArtifactLabs_ has closed a $3.25 million round led by Blue Pool Capital with participation from animocabrands. By thesamreynolds.
Artifact Labs, a Web3 company that works to preserve records of historical events on the blockchain, has closed a $3.25 million funding round.
The round was led by Blue Pool Capital, with Animoca Ventures also participating. Blue Pool Capital, is a fund that principally invests the wealth of Alibaba founders Jack Ma and Joe Tsai. Artifact Labs said in the release it plans to utilize the funds to expand the company's operations, emphasizing an increase in developers.
“It’s not about creating new IPs for speculation – for example NFT hype projects – it’s about driving new engagement with historically significant collections by using Web3,” Phillip Pon, CEO of Artifact Labs, said in a release.
Artifact Labs said in a release that it will be releasing NFT collections as a revenue stream for preservation organizations as well as developing and releasing technology to help institutions preserve their archives on-chain.
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