Live Company Group PLC (AIM:LVCG) said online art and non-fungible token (NFT) firm Start Art Global Ltd (StART) went live with its platform in October and has generated revenues of over $200,000 to date.
Live Company holds a 16.3% stake in StART.
In a progress report provided to Live Company, StART said its purchase of StART Fairs and StART+ enabled a merger of “the physical with the digital”, allowing artists to show their work and sell it online.
StART + at ARX in London's Brompton Road, which showcases the group’s NFTs, has been “extremely popular” and has been extended for six months.
The 9th Edition of StART fair is currently in planning for 2022 and additional live exhibitions are also being planned in the StART + space.
In Korea, a second StART + is planned in Seoul for January 2022, which will showcase KPOP art works and limited editions.
StART also said it is negotiating a joint venture to market NFTs in Korea.
READ: Live Company opens interactive dinosaur display at Singapore zoo
"I am delighted with the progress of StART and believe that LVCG's investment will be value accretive for the group as the StART team begin to deliver an ambitious strategy across the physical and virtual art space,” said Live Company chairman David Ciclitira.
“The world is content hungry right now both for virtual and in person experiences - which StART delivers. Furthermore, the world-class technology they are developing is something which may have revenue generating opportunities within the group itself including LCSE [Live Company Sports and Entertainment]."