ArtSquare.io acquires Feral Horses in first Art Tokenization Platforms M&A operation
The merging operation was concluded partly in cash and partly in equity for an undisclosed amount.
The two art fintech startups have seen rapid growth in recent quarters due to the exponential increase of worldwide interest in tokenized art and NFTs.
ArtSquare.io has positioned its platform as the Robinhood for art investment with a mixed business model based on both transaction fees on the B2B side and subscriptions on the B2C side.
It developed a fully working exchange relying on blockchain technology and has recently been included in the Algorand acceleration program powered by Eterna Capital and Borderless Capital, two of the most active VCs in the crypto space.
ArtSquare.io has merged Feral Horses’ customer base and has introduced several new features such as an advanced reward system for the most active art investors and a voting system for art owners to participate in every decision regarding the future of the tokenized artworks and collectibles.
The platform relies completely on blockchain technology, guaranteeing the security of each transaction and embracing the latest trend of the Art industry: NFTs.
At the end of the merge, ArtSquare.io will have the largest user base in the EU zone for an art tokenization platform and has planned several new listings of artists such as Damien Hirst, Bansky, and Jeff Koons.
Fabrizio D’Aloia and Francesco Boni Guinicelli, founders of ArtSquare.io, said in a joint statement: “ We are very proud to have completed our first acquisition and we want to thank Feral Horses for trusting us with this deal and for the amazing job done in the development of their project. Art tokenization is a great opportunity to bring more liquidity to the art market and to democratize access to art investing making it affordable for anyone from just 1€ or equivalent”
David Garcia, CEO and Managing Partner of Borderless Capital said “NFTs have seen huge adoption and we’re excited to see ArtSquare leverage key Algorand attributes such as immunity from forking, eco-friendliness, low transaction fees and layer-1 primitives like atomic-swaps to democratize fractional access to art. We’re proud to see ArtSquare complete this acquisition while still in the accelerator.”
Francesco Bellanca, CEO and founder of Feral Horses “We are happy to have concluded the merger with ArtSquare.io. This will mean that current Feral Horses users will be able to benefit from all the features and benefits that Artsquare has to offer, together with a broader offering of artworks.”
The operation was possible thanks to the support of Be Art Advisors, an art consulting firm, B2B Business, a UK accounting and tax advisory firm, Marco Cocilovo and Partners, an international law firm for legal advisory, and Seedrs, the leading UK crowdfunding platform.
For immediate press release and for more info please contact email@example.com