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Hong Kong NFT Firm Artifact Labs Raises US$3.25 Mln in Seed Round

Artifact Labs, a Hong Kong-based non-fungible token (NFT) company, has raised $3.25 million in its seed financing round led by Blue Pool Capital and Animoca Ventures. The company, which is a spinoff of Hong Kong newspaper South China Morning Post, plans to use the funds to expand operations and increase its technical headcount. Artifact Labs aims to release NFT collections as a revenue stream for preservation organizations and drive engagement with historically significant collections using Web3. The company previously partnered with RMS Titanic Inc. to mint NFTs based on physical artifacts recovered from the sunken ship. Gary Liu, founder of Artifact Labs, has emphasized the importance of NFTs possessing intrinsic value beyond endorsement by a group of people.

(By TIMMY SHEN)

NFT Hong Kong
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