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- Morningstar Ventures pays $5 million in 37xDubai NFT project
- Public launch will take place in the 1st quarter of 2023
Morningstar Ventures opens 37xDubai, the NFT Art Gallery in downtown Dubai
Vladislav Sopov
Leading blockchain-focused VC incubator Morningstar Ventures shared details of its latest investment designed to change the narrative in Dubai’s NFT landscape
Renowned VC investors strengthened the positions of Morningstar Ventures on the global NFT art scene. The new Dubai-based venue is set to be a meeting point for digital art enthusiasts, creators and commissioners from different regions of the world.
Morningstar Ventures pays $5 million in 37xDubai NFT project
According to the official statement of Morningstar Ventures, its ground-breaking interactive digital art gallery in Burj Daman Tower (Dubai, DIFC area) named 37xDubai inches closer to opening.
The new gallery is set to onboard a new generation of enthusiasts to the red-hot segments of the NFT revolution, including Web3 education, traditional art, digital art, entertainment and community management.
A number of well-known NFT artists will leverage Morningstar Ventures and 37x’s network resources to keep the creative space fresh and achieve ambitious new milestones.
Clemence Cazeau, 37xDubai CEO, is fascinated by the positioning of the new project and the prospects it opens up for beginners and pros in the NFT segment:
The design and architecture of our gallery is highly sophisticated, filled with state-of-the-art equipment, interior, sound and lighting infrastructure. We have hand-picked and carefully selected every element in the space to ensure that the 37xDubai Gallery and its exhibitions are presented in an unforgettable way to all our visitors.
It is worth noting that the UAE is a major industry hub for metaverse and NFTs: 23% of people own at least one non-fungible token in their portfolios.
Public launch will take place in the 1st quarter of 2023
The new initiative has already gained traction: partnerships are achieved with flagship products in the luxury, art, fashion and lifestyle sectors across different continents.
It is expected that the new gallery will open its doors just before Art Dubai’s global meeting in early March 2023. More details about the upcoming launch will be shared in January. The net amount of funds awarded to this project exceeded $5 million.
As covered by U.Today previously, Morningstar Ventures is supercharging a number of blockchain projects with the MultiversX (formerly Elrond) ecosystem in focus.
