Dubai-based investment firm, Morningstar Ventures has announced a $5mn investment in its first interactive and immersive digital art gallery ‘37xDubai’. Located in the Burj Daman tower, DIFC, the first interactive and immersive art gallery will showcase a curated collection of digital experiences.
The new concept has more than an art gallery, it will focus on web3 education, traditional art, digital art, entertainment and community via educational programmes, activations, private events and monthly gatherings.
The new concept will be released prior to Art Dubai, set to take place in early March.
Morningstar ventures was founded by Danilo S. Carlucci and Arut Nazaryan, two Dubai-based entrepreneurs.
The global NFT market is projected to reach 23.9 percent between 2022 and 2028. In the UAE, 23 percent of people own at least one NFT, ranking the region first compared to Europe (8 percent) and the US (2.8 percent). MoMa, Sotheby’s, and other institutional players in the art scene have also opened NFT or Metaverse-related initiatives or shown interest in the space over the past years.
“The design and architecture of our gallery are highly sophisticated, filled with state-of-the-art equipment, interior, sound, and lighting infrastructure. We hand-picked and meticulously selected every element of the space to ensure that the 37xDubai gallery and its exhibitions could be presented in an unforgettable fashion to every one of our visitors,” said Clemence Cazeau, CEO 37xDubai.
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