Singapore ‘collectible art’ marketplace gets seed funding from SeedPlus, more

BlockPunk, a Singapore-based “collectible art” marketplace, announced it has raised S$1.3 million (US$957,710) in a seed round led by SeedPlus. SGInnovate, Hustle Fund, Entrepreneur First, and Dai Nippon Printing also participated.

The fresh funding will bankroll the startup’s plans to develop its platform and expand its engineering team.

BlockPunk allows creators to turn their Japanese anime-inspired digital artwork into collectible merchandise. It uses blockchain to create “proof of authenticity” and provides creators with a new source of income.

Creators can sign up for an account on the website, where they will receive a unique ID recorded on the blockchain. Each art piece uploaded onto the platform will also be linked to the creator’s ID and authenticated by the BlockPunk team.

The marketplace supports two types of creators: premium anime studios from Japan and independent artists.

“Our platform is for original content only, unless we or the creator has a license to sell fan art with the original intellectual property owner,” explains BlockPunk co-founder and CEO Julian Lai-Hung.

He also thinks that the market for anime merchandise is “broken.” Fans want to consume merchandise as soon as the anime is streamed online, but they’re “rarely available due to fragmentation and supply chain issues.”

He continues, “Unlicensed products have become the norm to match this demand. Our solution allows any creator to instantly create ‘official’ collectible merchandise that’s available globally.”

In addition to its digital inventory, BlockPunk will also extend proof of authenticity and copy protection to physical merchandise via its strategic partnership with Dai Nippon Printing.

Currency converted from Singapore dollar. Rate: US$1 = S$1.36