The blockchain-based art registry startup Artory has reportedly raised more than $7 million in Series A funding round, reported the art-focused publication the Art Newspaper.
Among the investors in the platform are Hasso Plattner Capital and David Williams, general partner of California-based 2020 Ventures, which holds stakes in companies such as Spotify, Postmates, and The RealReal.
Williams told the Art Newspaper, “The Artory Registry brings transparency and trust to an industry that is overly exclusive and opaque. In many ways similar to how Spotify re-invigorated the music industry, we believe Artory is poised to transform the art industry by offering collectors and buyers a trusted place to research provenance, conduct due diligence, and make more informed purchasing decisions.”
In March 2019, Artory acquired Auction Club, a subscription-only database that hosts sales information from 4,000 international auction houses. And in November Artory formed a partnership with Christie’s on the high-profile sale of the Barney A. Ebsworth Collection in New York, making it the first auction to be recorded by blockchain technology.
