Async Art, a non-fungible token platform from Silicon Valley, has raised over $ 2 million in seed capital from at least 10 investors, underscoring the growing value proposition of programmable art.
The company announced the new increase on Wednesday, highlighting Async’s rapid growth since it launched in February 2020. In its first year of operation, Async had art sales of over $ 1 million and launched a smart TV app to display digital art.
Although the company didn’t specify how it would use the funds, it did state that bringing in new users and creating new displays were a priority. Async is also committed to expanding its job openings. The LinkedIn site is currently offering jobs for a community manager and an application developer.
At least 10 investors participated in the starting round: Lemniscap, Galaxy Interactive, Signum Growth Capital, Semantic, Blue Wire Capital, Collab + Currency, Inflection, Divergence Ventures, LAO and Placeholder.
Async described programmable art as a “new movement” that enables creators to “deconstruct their work into” levels “and give them capabilities”.
Lemniscap, a major Async Art investor, called the media the next frontier for disruption:
“By enabling shared ownership of works of art and dynamic influence on their appearance, Async Art turns the existing art concept on its head and paves the way for a completely new category of programmable media.”
Async was also featured at Christie’s, a major auction house that plans to offer standalone NFT works later this month. Noah Davis, an art specialist at Christie’s, recently said that NFTs “have seen a rapid rise in recent years, particularly in recent months”.
Async also unveiled Matt Kane’s “Right Place & Right Time” art in March 2020, which helped him earn a spot in the Cointelegraph Top 100. The artwork, which is dynamically evolving in response to Bitcoin’s (BTC) price volatility, is considered a masterpiece in the emerging NFT niche.
