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Concept Art House in order to create NFT art and Games Raises $25Million

Concept Art House is no longer a small art gallery. The developer of video game art and valuable nonfungible tokens (NFTs) has raised $25 million.

Artists, blockchain game firms, musicians, and celebrities are all benefiting from the NFT boom, and the San Francisco company is no exception. Concept Art House frequently provides the artwork that these parties use to market artifacts to fans and gamers.

For example, to commemorate the 30th anniversary of Frank Miller’s Sin City, Concept Art House collaborated with Gala Labs to produce the NFT drop. This resulted in sales records, including the auction of an original Sin City painting by Miller, which sold for $840,000. On November 9-10, GamesBeat Summit Next online event will feature a session moderated by Concept Art House CEO James Zhang.

According to DappRadar, the market for NFTs reached new highs in the third quarter of 2021, with $13.2 billion in sales in the first nine months of the year. In other fields, including art, sports collectibles, and music, NFTs have exploded. One example is NBA Top Shot (a digital version of collectible basketball cards).

In just a year, NBA Top Shot has topped $780 million in sales. An NFT digital collage by the artist Beeple sold for $69.3 million at Christie’s. NFTs are attracting a lot of money from investors, including gaming fans. Weekly NFT revenues peaked in May and then plummeted, but in August and September, they grew, decreased, and then remained stable.

Both existing and new investors contributed to Concept Art House’s funding. Individual investors, including CEOs of digital entertainment companies, were among them, as were venture capital funds, leading NFT platforms, and individual investors.

Animoca Brands, Anthos, Appworks, Blockchain Coinvestors, Fabric VC, Hashkey, Liberty City Ventures, One Football, PKO investments, Polymorphic Capital, Protocol Labs, Redbeard Ventures, Spartan Group, Jeff ‘Jiho’ Zirlin (Axie-Infinity), Gabby Dizon (Yield Guild Games), Vinny Lingham (Civic), and Kevin Lin (Civic) are among the investors (Twitch). Steve Aoki is also involved as a consultant.

The diversified investor base demonstrates interest in Concept Art House’s diverse services, as well as its foray into the NFT space through its fast-growing Crypto Art House division.

PC: https://www.gettyimages.in/detail/photo/non-fungible-token-art-royalty-free-image/1312996884?adppopup=true

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