Morningstar Ventures Invests +5M USD to Open ’37xDubai’, Modern NFT Art Gallery in the Heart of Dubai – Gulf Today

Morningstar Ventures Invests +5M USD to Open ’37xDubai’, Modern NFT Art Gallery in the Heart of Dubai – Gulf Today

Morningstar Ventures, a Dubai-based investment firm specializing in digital assets and blockchain technology, has invested +$5 million in its first interactive and immersive digital art gallery, called ‘37xDubai’. Located in the Burj Daman Tower (DIFC area), 37xDubai will be at the heart of Dubai’s business and lifestyle center as it opens its doors in Q1 of 2023.

The global NFT market is projected to reach 23.9% between 2022 and 2028. In the UAE, 23% of people own at least one NFT, ranking the region first compared to Europe (8%) and the U.S. (2.8%). MoMa, Sotheby’s, and other institutional players in the art scene have also opened NFT or Metaverse-related initiatives or shown interest in the space over the past years.

37xDubai aims to be a bridge across Art and Technology, thereby bringing a new concept to the market focused on web3 education, traditional art, digital art, entertainment, and community.