TRLab, a fine art-focused tech start-up, secured $5 million in a seed round funding, as the New York and Hong Kong-based firm looks to promote digital art in the web3 space.
In a statement shared with The Block, TRLab said the funding round is led by Hivemind Capital Partners and OKX Ventures, with participation from HashKey Capital.
"TRLab has always occupied a unique space among digital art and Web3 platforms, and the success of our mission-driven approach shows there is ample demand for digital-centric art experiences that foster a deeper understanding of fine art and individual artists," Audrey Ou, TRLab's co-founder and chief executive officer, said in the statement.
TRLab has hosted projects in partnership with Vogue, the Calder Foundation, contemporary artist Cai Guo-Qiang and Rhizome, the digital art-focused affiliate of New York’s New Museum, the company said.
The firm plans to use the proceeds of the round to get new artists and cultural institutions involved in digital art, while expanding its presence worldwide.