Art Blocks Raises $6M From Galaxy, Flamingo DAO on Strength of Generative NFTs
In an interview on CoinDesk’s “Opinionated” podcast, founder Erick Calderon explained how a crypto side-hustle grew into a leading digital art project. Read the full article by: Danny Nelson
Key Points:
Art Blocks is one of the biggest NFT projects to date and has done multimillions of dollars for chromatic squiggly lines that are generated randomly through an algorithm.
Major Bitcoin investment fund Galaxy digital co-led a round of funding for Art Blocks that raised $6 million from Galaxy Digitals entertainment venture fund Galaxy interactive.
Other investors included Flamingo DAO which is a decentralized autonomous organization for collecting pieces of NFT artworks. True Ventures, Collab Currency, and Libertus were the others that contributed.
“With generative art, or algorithmic art, you might spend 40 hours building an algorithm that is shaped and tweaked and finessed into producing seemingly unlimited outputs,” Erik Calderon said.
