Async Art, a platform for creating and trading non-fungible tokens (NFTs), has raised over $2 million in seed funding.
The round was led by Lemniscap, with participation from Galaxy Interactive, Signum Growth Capital, Semantic, Placeholder, and others.
With fresh capital at hand, San Francisco-based Async Art looks to expand its team and scale the platform, co-founder Lisa Liang told The Block, without disclosing specific details.
"The NFT space is thriving right now. Digital creators can monetize their works like never before, and investors can diversify into scarce NFT assets," said Liang.
Async Art helps create programmable art, or digital creations split into "Layers" that allow collectors to become part of the art itself and alter the final work.
"This is compelling because art is most impactful when viewers can see themselves in it, and programmable art allows collectors to connect more deeply," Liang told The Block.
"Artists are also able to create a brand new medium of art, one that they were not able to before. Artwork that can now change over time, change based on bitcoin's price change, or by the new owner's design, are now all possible," she said.
Async Art's first NFT, Robert Alice's Block 21, was sold by famous auction house Christie's last October. The NFT fetched a price of over $130,000.