Morningstar Ventures to Open $5M NFT Art Gallery in Dubai

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Morningstar Ventures is an investment company that focuses on digital assets and blockchain technology. Now, they are launching their first interactive NFT art gallery in Dubai. The investment firm will spend $5 million to open “37xgallery” in the heart of the city. The gallery will open in the first quarter of 2023. It will be between Dubai’s business and leisure centers.

Quick Take:

  • Morningstar Ventures has put $5 million into a new NFT art gallery in Dubai’s business district.
  • The digital art gallery, 37xDubai, focuses on web3 education, traditional art, and entertainment.
  • The Blockchain and digital asset investment firm is venturing into NFT art for the first time.

What does 37xDubai have to offer?

To begin, the upcoming gallery ’37xDubai’ intends to be a meeting point for technology, Web3 education, traditional art, digital art, entertainment, and community. It will push the boundaries of what an art gallery can do by combining curated collections and digital experiences. Particularly, the gallery will host educational programs, private events, and monthly gatherings. Furthermore, the 37xDubai location will serve as a global hub for digital art enthusiasts, including creators.

Artists will have access to a growing web3 community, and the gallery’s underlying technology. This will allow for constant updates to the displayed collections.

Related Content: Christie’s Unveils New NFTs Ahead of Miami Art Week

The gallery’s technology encourages the rotation of exhibited collections and artists. As a result, a diverse and refreshing gallery filled with captivating exhibitions and installations is maintained.

 “The design and architecture of our gallery are highly sophisticated, filled with state-of-the-art equipment, interior, sound, and lighting infrastructure. We’ve hand-picked and meticulously selected every element of the space to ensure that the 37xDubai gallery and its exhibitions are presented in an unforgettable fashion to every one of our visitors.”

Clemence Cazeau, 37xDubai CEO

More about Morningstar Ventures

Morningstar Ventures is expanding its web3 footprint with the launch of a new digital art gallery. Plus, company has already invested in several web3 projects mainly based on the Elrond ecosystem. Basically, Elrond is a Layer 1 blockchain network that employs the Secure Proof-of-Stake (SPoS) mechanism.

Already, the blockchain investment firm has an Elrond-based incubator program for web3 startups in Dubai.

Morningstar Ventures has invested in many companies. These include Elrond, STEPN, Itheum, Ethernity, and BitsCrunch, a web3 data analytics and insights startup.

Danilo S. Carlucci and Arut Nazaryan, early adopters of web3 with backgrounds in the entertainment and lifestyle sectors, co-founded the company in Dubai. Early in 2021, they added Clemence Cazeau to their core leadership group, bringing with her a wealth of knowledge from the art world.

The UAE is one of the top web3 investors, with 23% of the population owning at least one NFT, compared to 8% in Europe and 2.3% in the US.

Lastly, the 37xDubai gallery is expected to debut right before Art Dubai, which happens in early March of the following year. More information about the project, which is still in development, will be made public in January.

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