Unicorn of crypto-finance Amber Group has joined with TR Lab to establish a new effort to assist creators in gaining access to the burgeoning NFT market, showcasing the growing adoption of digital collectibles across industries once again.
CreatorFi, a new platform to assist NFT inventors to get to market faster, was announced on Wednesday. Amber Group will provide direct infrastructure setup support, including minting, custody, and platform penetration testing. CreatorFi is supposed to use Amber Group and TR Labs’ expertise to provide consumers with customized, end-to-end services for their NFT auctions.
“The traditional art world is being revolutionized by NFTs,” said Annabelle Huang, a partner at Amber Group. “Every time ownership of an object changes hands on the blockchain, artists can now monetize their work.”
TR Lab has its own NFT platform where collectors may find and bid on digital art. Dragonfly Capital, Christie’s CEO Xin Li-Cohen, and the founders of Artsy, Shanghai Rockbund Art Museum, and ART021 Shanghai Contemporary Art Fair collaborated to create the platform.
TR Lab just finished its first Transient Eternity auction, 101 Ignitions of Gunpowder Paintings, an NFT based on Cai Guoqiang’s gunpowder painting. The 48-hour auction ended on July 16 with a $2.5 million winning bid.
Despite a prolonged pause in the bitcoin market, NFTs have continued to thrive. NFT sales have continued to rise even while assets like Bitcoin (BTC) and Ether (ETH) have satisfied the technical definition of a bear market. According to Cointelegraph, the audiences of NFT producers are unconcerned by the price of BTC or ETH for the time being.