Verisart, a London, UK-based blockchain-based certification solutions for the arts and collectibles market, raised $2.5m in seed financing.
The round was led by Galaxy Digital EOS VC Fund with participation from existing investors Sinai Ventures and Rhodium.
The company intends to use the funds to extend the product and engineering team and launch a suite of premium services aimed at artists, galleries and collectors.
expand its commercial platform for authentication and further contribute to the art world.
Led by CEO Robert Norton, Verisart is a platform to certify and verify artworks and collectibles using blockchain technology. The company provides a decentralized title registry combining security, transparency and anonymity to increase trust and liquidity in the art market.
The company binds museum grade certification standards, distributed ledger technology and image recognition under one platform and is used by prominent artists, galleries, museums and auction houses.
Verisart is a founding member of the Arts Innovators Alliance, an alliance of forward-thinking art businesses committed to advancing the art industry through innovation and technology.
The company recently appointed Paul Duncan, formerly the founding CTO of Borro, the online lending platform for luxury assets, to lead the engineering team. Further senior management announcements are expected to follow.