NFT art platform TRLab has raised $4.2M in a bid to diversify its art collection.
This funding round saw the participation of Animoca Brands, probably the world’s biggest NFT and metaverse venture capital firm, Bertlesmann Asia Investments (BAI), the Asian VC of German media and education conglomerate Bertelsmann, Hong Kong-based Kenetic Capital, INCE Capital, Metapurse, Plutus Capital, StableNode, a project that uses blockchain validator rewards to invest, and Willoughby Capital.
It brings the total raised by TRLab to $6.2 million.
The company plans to use this cash to add art projects of varying scope and scale to its platform.
Last July, TRLab sold an artwork by Chinese artist Cai Guo-Qiang for $2.5 million, signaling a push to the higher end of the contemporary art market.
TRLab plans to announce two new NFT projects in coming weeks.