Former Ledger Executive Raises $25 Million for NFT Art Fund

03/16/2023 12:14 • Metaverse Matters • 86 views

According to reports, Jean Michel Pailhon, a former Ledger executive, is raising up to $25 million for an NFT art fund. The fund will give priority to blockchain art with “cultural influence”. The fund hopes to mainly attract non encrypted local investors, paying special attention to institutions that already hold physical artwork in their offices and want to access blockchain based NFT artwork.

Jean Michel Pailhon, a former executive at Ledger, raised $25 million for the NFT Art Fund

Analysis based on this information:

Jean Michel Pailhon, the former executive at Ledger, a digital asset security company, is said to be raising up to $25 million for his NFT art fund. The fund will offer priority to blockchain art with “cultural influence,” thus placing an emphasis on the value of an artwork’s cultural significance. The objective of the fund is to attract non-encrypted local investors, notably institutions that are interested in gaining access to blockchain-based NFT artwork.

NFT artwork has become increasingly popular recently, as a new type of asset class that allows people to purchase digital art pieces through blockchain technology. These digital assets are unique, have a clear history, and cannot be replicated or counterfeited, making them highly secure investments. The digital art industry in the U.S. alone is valued at $6 billion, and NFT art is experiencing significant growth, with NFT sales for the first half of 2021 totaling $2.5 billion.

The NFT art fund created by Pailhon aims to provide investors with a unique opportunity to benefit from this lucrative new industry. Its focus on cultural influence distinguishes it from other art investment funds. Pailhon believes that the cultural importance of an artwork is vital when it comes to its value. NFT artwork is an inherent part of the contemporary era, possessing a powerful cultural message that cannot be ignored. This principle will guide the fund’s selection of blockchain art.

Furthermore, the focus on attracting non-encrypted local investors is noteworthy, as it demonstrates a growing interest in blockchain-based investments in the traditional art world. Institutions that hold physical artwork in their offices are now looking at digital assets as a viable investment option. By investing in NFT art, these institutions will have access to a new digital art space without encountering excessive startup costs, which can be incredibly high.

In conclusion, Pailhon’s NFT art fund offers an exciting opportunity for investors to take advantage of a growing industry. With a focus on cultural influence and the goal of attracting non-encrypted local investors, the fund offers a unique niche for those interested in both art and blockchain technology. As the digital art industry continues to grow, it seems likely that investment in blockchain art will only become more and more popular.

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Former Ledger Executive Raises $25 Million for NFT Art Fund

Jean Michel Pailhon, a former executive at Ledger, raised $25 million for the NFT Art Fund

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