Morningstar Ventures invests $5 million to open 37xDubai, a new NFT art gallery in Downtown Dubai
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Dubai, UAE, 13 December 2022, Chainwire — Morningstar Ventures, an investment firm specializing in digital assets and blockchain technology, is opening its first interactive digital art gallery in the heart of Dubai. ’37xDubai’ is located in the Burj Daman Tower (DIFC area), in the heart of Dubai’s business and lifestyle hub.
37xDubai aims to bridge the gap between art and technology by focusing on web3 education, traditional art, digital art, entertainment and community. A carefully curated art collection mixed with digital experiences will make 37xDubai much more than just a gallery. Via educational programs, private events and monthly gatherings, 37xDubai will cultivate a global community of digital art enthusiasts.
Selected artists will be able to take advantage of Morningstar Ventures and 37x’s network and expand their reach by engaging with a new influx of web3 enthusiasts. The modular technology behind the 37xDubai gallery allows for frequent changes to exhibited collections, keeping the creative space fresh and adaptable to different concepts.
Clemence Cazeau, 37xDubai CEO, said: “The design and architecture of our gallery is highly sophisticated, filled with state-of-the-art equipment, interiors, sound and lighting infrastructure. We have hand-picked and carefully selected every element of the space to ensure that the 37xDubai gallery and its exhibitions are presented in an unforgettable way for all our visitors.”
The co-founders of Morningstar Ventures, Danilo S. Carlucci and Arut Nazaryan, are two young Dubai-based entrepreneurs who were early investors in web3 and are associated with the entertainment and luxury industries. In early 2021, the couple was joined by Clemence Cazeau, who brings with her many years of experience from art, galleries and auction houses.
The global NFT market is estimated to reach 23.9% between 2022 and 2028. In the United Arab Emirates, 23% of the population own at least one NFT, ranking the region first compared to Europe (8%) and the US (2.8%) . MoMa, Sotheby’s and other institutional players in the art scene have also opened NFT or metaverse-related initiatives or shown interest in the space recently.
The 37xDubai team is in the later stages of the development process and has already gathered interest from a number of exclusive partners from the luxury, art, fashion and lifestyle sectors. 37xDubai will open its doors just before Art Dubai which will take place in early March 2023. Details of the grand opening will be released in January.
Consult
Itai Elizur
MarketAcross
[email protected]
