Samreen Ahmad · · 1 min readAnimoca Brands backer pumps $1.6m into NFT marketplace
Singapore-headquartered True Global Ventures 4 Plus Fund has invested US$1.6 million into Picture This, a platform for buying photographic art.
Picture This will use the fresh funds to market and sell premium non-fungible tokens (NFTs), which are designed to bridge gap between the physical and digital worlds via the hybrid ownership of art.
Founded this year by serial entrepreneurs Jan Broman, Per Broman, Oscar Otteborn, and Moon-Suck Song, Picture This offers royalty to contributing photographers.
“For many photographers, NFTs and digital art are a natural and exciting step in reaching their audiences,” said Otteborn, CEO of Picture This. He added that True Global Ventures’ backing and its extensive experience around NFTs strengthens Picture This’ “metaverse proposition.”
See also: Meet Singapore’s pioneering NFT creators
True Global Ventures, a venture firm that focuses on blockchain equity, raised over US$100 million in September for its TGV 4 Plus fund. The fund has invested in companies including Animoca Brands, a Hong Kong-headquartered blockchain-based gaming unicorn.
Editing by Collin Furtado and Arpit Nayak
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