First Look: An art gallery in Dubai to educate artists about NFTs, Web3 Cryptocurrency scrgruppen

The 37xDubai art fair, which will open to the public later in October, aims to educate artists and art lovers about non-fungible tokens (NFTs) and the broader Web3 ecosystem through workshops held at the fair after its official launch.

Cointelegraph sat down with Danilo Carlucci, founder of investment firm Morningstar Ventures and 37xDubai, which is headquartered in the Dubai International Financial Center (DIFC). Carlucci spoke about her goals for the new art gallery and why she’s diving into NFTs and Web3 despite current market conditions.

A first look at where NFTs will be on display at 37xDubai. Source: 37xDubai

Carlucci says the exhibition is “an attempt to connect art and technology in one place.” Being a traditional venture capital fund, the executive said the art gallery is Morningstar Venture’s way to diversify into the more creative digital art and NFT space. He said:

“We have many different types of digital art, but we also have NFTs on display. Not only do we sell these specially selected NFTs, but we also educate people who visit our gallery about what NFTs are.

Aside from displaying NFTs within the gallery, the 37xDubai founder also highlighted that he is using NFTs inspired by his Tree of Life art installation as a membership token.

Carlucci in conversation with Cointelegraph Ezra Rikera. Source: Cointelegraph

The executive said that he will also support various events and workshops on the adoption of Web3 technology. He said the project includes advisors from Binance NFT and Binance Charity who will help him in these endeavors.

Related: First look at Dubai’s Bitcoin Tower: Dev shares initial design

When asked why they continue to dive into NFTs, giving sentiments and statements showing that NFT market prices are no longer what they used to be, the founder expressed his belief in the technology and explained why NFTs are different at the show. Carlucci said that while they are not an NFT-only gallery, they “believe in NFTs.” He stressed that compared to NFTs created by technology companies, the NFTs in the exhibition have a different purpose.

Tree of Life art display at 37xDubai Art Gallery. Source: 37xDubai

“For the artists we work with and carefully select, the motivation is creative. They want to make something creative, and it happens that they use blockchain technology for authentication purposes and maybe sometimes for a creative purpose, but the motivation is always creative,” he explained.

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