The 37xDubai, the first interactive and immersive digital art show, debuts in Q1 2023. It will be located in the Burj Daman Tower at the center of Dubai’s business and lifestyle zone (DIFC area). Morningstar Ventures, a business specializing in digital assets and blockchain technology, has invested approximately $5 million in “37xDubai.”
MoMa, Sotheby’s, and other institutional players in the art world have initiated NFT or metaverse-related initiatives or shown interest in the field during the past few years. Between 2022 and 2028, the predicted growth rate for the global NFT market is 23.9%. In the UAE, 23% of the population owns at least one NFT, placing the country ahead of Europe (8%) and the United States (2.8%).
37xDubai aims to sell a novel concept that is focused on web3 education, traditional art, digital art, entertainment, and community by bridging the gap between art and technology. With a focus on showcasing a carefully curated collection of art along with digital experiences, 37xDubai is more than just a gallery. 37xDubai aims to create a global community of digital art enthusiasts through educational initiatives, activations, exclusive events, and regular gatherings.
Featured artists will be able to utilize Morningstar Ventures and 37x’s network and increase their audience by communicating with a new group of web3 enthusiasts. Additionally, the modular design of the 37xDubai gallery allows for frequent changes in the collections on view, keeping the creative space fresh and adaptable to various concepts.
The two young businesspeople who co-founded Morningstar Ventures in Dubai, Danilo S. Carlucci and Arut Nazaryan, were early investors in the web3 ecosystem and had close contacts with the entertainment and luxury industries. At the start of the previous year, the two investors met with Clemence Cazeau, who had years of experience working in art galleries and auction houses.
As the team enters the final stages of its development process, numerous elite partners from the luxury, art, fashion, and lifestyle industries have already expressed interest in it. The new 37xDubai concept will be launched just before Art Dubai, which is planned for early March.