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Root Lab Art Collective Secures $2.25M in Seed Funding Round

The New York-based Artist community forged a new path for artists to publish their variety types of artwork through Web3 and NFT.

According to a press release, Web3 Art community Root lab Art Collective (RAC LAB) has raised $2.25 million in a seed funding round that was led by well-known web3 venture capital firm, along with 4 other venture capital DAO (which their names have not been disclosed yet).

RAC LAB works with individual artists and art-studios to help them tokenize their artwork through Web3 Dao or NFTs. They are very distinctive from other NFT art forms, thus allowing the integration between art, nft, and technology to be much more diversified and larger in scale. These artworks can be any type of arts, performance art, interactive art, or just a simple painting. RAC LAB will utilize crowdfunding to get participants to create these art together, at the same time, participants will also be rewarded with NFT/or tokens and the chance to participate in a special community established by their Web3 partner, BVAT group.

RAC, the New York-based company is partnering with Brain in a Vat (BVAT), an NFT incubation platform to launch the Web3 biggest Art movement - “The Times Square Heist”.

#TimesSquareHeist is a large-scale collaborative art-creation event facilitated by the BVAT group and RAC LAB. Participants are able to donate ETH to obtain $Brain tokens and enjoy the entire art event. BVAT & RAC will curate the statements of all initial contributors who join the IAO activity into a cyber-reality-transitive visual art, and showcasing it to the entire world through the LED screens in Times Square.

“We take freedom as the argument, trying to capture and overthrow those advertising platforms and content occupied by large capital, combining the decentralization and spirit of freedom of web3 to display personal art on this platform that originally only belonged to traditional capital/big brands. I hope everyone could participate, and be a part of anonymous who joins this event. Just like many Robinhood films. We rebel, we fight, we try to spread "freedom" at the center of the world. The whole event itself also represents a strong satire on the current society, a utopian vision of the spirit of freedom/freedom of speech that web3 could bring." said Yi Li, co-founder of RAC LAB,  at the press conference.

The integration of traditional art and NFT is still in its infancy, although many companies and the web3 communities have made countless attempts based on the integration of web3 and traditional art forms. There is still a lot more to explore along the way, especially on the integration of different types of arts and new technology.


Media Contact
Company Name: BVAT group
Contact Person: Todd Smith
Email: Send Email
Country: United States

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