Exchange Art raises £2.8m in seed funding led by Layer One Ventures to grow its digital marketplace
Layer One Ventures led the seed round with backing from multiple funds and angel investors.
Exchange Art operates a digital art marketplace on the Solana blockchain focused on provenance and creator economies. It enables artists to reach global collectors with lower commission rates than traditional galleries.
Exchange Art has secured £2.8m in a seed funding round led by Layer One Ventures. Additional participation came from Big Brain Holdings, Cultur3 Capital, Vandelay Investments, Cozomo de Medici, and various angel investors from the Solana community.
The marketplace aims to open access to the fine art market by providing verifiable on-chain provenance for collectors. The fresh capital will be directed towards product development and expanding the platform base for artists and collectors.
Founded in late 2021, the company has seen rapid monthly growth and facilitated millions of pounds in creator payouts. The new funds will also support physical gallery exhibitions for platform artists in cities across the United States and Europe.
From the founder
"Long a secretive and private industry, collecting art has been out of reach for the majority of people. Now it’s time to disrupt it,"
Alex Fleseriu
CEO at Exchange Art
Investor perspective
"The Exchange Art team has the passion, vision and deep love of fine art AND technology needed to build, what we believe will be the next digital revolution, fine art built with digital provenance and running on Solana rails built for a global market.I’ve worked closely with the team for the last few months and their vision for what is possible for the future of the digital fine art market for both global artists and collectors (many millions of whom previously had no access to these markets) is breathtaking and I’m delighted to be able to back them on their journey!"
Ryan Bethencourt
Partner, Layer One Ventures
Use of funds
- 01Continue product development
Investors
Ryan Bethencourt
Layer One Ventures
Big Brain Holdings
Mark Streeter
Cultur3 Capital
Vandelay Investments
Cozomo de Medici
Categories
About the company
Exchange Art
Exchange Art runs a digital art marketplace on the Solana blockchain for creators and collectors.