Artifact Labs acquires NFT platform that can be refined to accelerate product roadmap
The acquisition will enable Artifact Labs to accelerate the development of its NFT marketplace
Agreement between Hong Kong-based companies closed for an undisclosed sum
HONG KONG, 17 April 2023 /PRNewswire/ — Artifact Labs, a Web3 company on a mission to “preserve and connect history on the blockchain,” announced that it has acquired the source code of Refinable Limited, the go-to Web3 platform for NFT creators. The purchase was agreed for an undisclosed amount.
Artifact Labs emerged from a Web3 venture within the South China Morning Post (SCMP) and has since launched notable NFT projects with major cultural organizations such as RMS Titanic Inc and The Hong Kong Philharmonic Orchestra. The acquisition will enable Artifact Labs to accelerate the development of the Web3 product roadmap, including the creation of a decentralized marketplace for NFTs. With Refinable’s technology stack integrated into its own efforts, Artifact Labs will be able to leverage the innovative features Refinable has launched over the past two years. It includes authoring tools, no-code accessibility and an NFT-as-a-service model.
“We are thrilled to have reached this agreement with Refinable to acquire their highly innovative technology stack. The team at Refinable has done an excellent job of building a robust, scalable platform for the creation and exchange of NFTs. This technology will now allow Artifact Labs to rapidly accelerate our product roadmap and continue our mission to serve culturally significant organizations exploring Web3 business models,” so Philip PonCEO of Artifact Labs.
“It’s exciting to see Refinable enter this next phase as an extension of Artifact Labs. Our vision and values are very aligned, with a shared mission to reduce friction for businesses trading on the digital asset chain. This acquisition is also an encouraging validation of the years of work our team has put into building an innovative platform that enables widespread NFT adoption,” so Nicholas Chanco-founder of Refinable.
The acquisition comes as NFTs and digital assets attract growing interest among consumer brands and heritage organisations. Artifact Labs aims to integrate culturally significant brands and IPs into Web3. The creation of the decentralized marketplace for NFTs is an important key to achieving this goal.
About Artifact Labs
Artifact Labs is an independent Web3 and NFT company that builds blockchain strategies, products and platforms serving organizations with legacy IP. The company is on a mission to “preserve and connect history” on the blockchain, enabling all custodians of history to maximize the impact of their most valuable assets by tokenizing them as “ARTIFACTS”. Artifact Labs is a one-stop solution for partners looking to launch unique NFT projects and embed Web3, providing support through consulting services, product development, blockchain engineering and community management. All ‘ARTIFACTS’ are linked via a proprietary metadata standard governed by the non-profit Artifact Foundation, enabling verifiable authentication and global discovery of historical NFTs.
About Refinable
Refinable is a full-service NFT trading platform that provides no-code solutions for users to create, distribute and activate onchain resources. Create aggregate white label marketplaces and monetize new or existing collections on Ethereum, BNB Chain and Polygon, all within Refinable’s fully decentralized Creator Suite platform. The company has previously worked with Digital Art Fair Asia, 9GAG, FWD and others to promote and empower digital creators.
SOURCE Artifact Labs
