Morningstar opened a digital art gallery in downtown Dubai, located in the Burj Daman tower (DIFC area), “37xDubai” aims to combine art and technology by leveraging web3 technology.
The gallery will focus on NFT art, web3 education, entertainment, traditional art and communities.
“37xDubai” offers an exclusive collection of art related to digital experiences in Dubai’s lifestyle and business center. The gallery has planned monthly meetings, private events and educational programs as part of its strategy to engage the global art community, according to a Morningstar press release,
It's with great pleasure that we present our most ambitious project yet: @37xdubai
— Morningstar Ventures (@Morningstar_vc) December 13, 2022
Artists will have access to a thriving web community3 and the gallery’s technology will allow for constant updates to the collections on display.
Clemence Cazeau, CEO of 37xDubai, comments on the launch, “The design and architecture of our gallery is very sophisticated, with state-of-the-art equipment, interiors and sound and lighting infrastructure. We have meticulously chosen and selected every element of the space to ensure that 37xDubai Gallery and its exhibitions are presented in an unforgettable way to each of our visitors.”
Morningstar Ventures expands its web3 presence with the new digital art gallery. The firm has already invested in several web3 projects based primarily on the Elrond ecosystem, a top-tier blockchain network that uses the Secure Proof-of-Stake (SPoS) mechanism.
The blockchain investment firm already has an incubation program for web3 startups based on Elrond and headquartered in Dubai.
Morningstar Ventures’ investment portfolio includes Elrond, STEPN, a web3 data platform for the open metaverse Itheum, NFT marketplace Ethernity and web3 data analytics and reporting startup BitsCrunch.
The company was co-founded by Danilo S. Carlucci and Arut Nazaryan, Dubai-based web3 pioneers with experience in the entertainment and lifestyle sectors. In early 2021, the management team was expanded with the addition of Clemence Cazeau, who brought years of experience in the art, gallery and auction house sectors.
The United Arab Emirates was one of the top investors in web3 in terms of penetration, with at least 23% of people owning at least one NFT, compared to Europe at 8% and the United States at 2.3%.
The 37xDubai gallery is scheduled to open shortly before the next edition of Art Dubai in early March. The project is still in the development phase and more details will be announced in January.
As announced on Tuesday, it has already attracted interest from partners in the luxury, art, fashion and lifestyle sectors ahead of its opening.
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