Art Blocks Raises $6M From Galaxy, Flamingo DAO on Strength of Generative NFTs

Written By Guest User

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.

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