Science & Technology

Concept Art House Raises $ 25 Million to Create NFT Art and Games

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Concept art house It’s no longer just a small art house. The creators of video games and non-fungible token (NFT) collectible art have raised $ 25 million.

San Francisco companies are participating in the same NFT boom that benefits artists, blockchain game companies, musicians and celebrities. In many cases, Concept art house We provide the art used by those parties to sell their collections to fans and gamers.

For example, Concept Art House worked with Gala Labs to create an NFT drop by Frank Miller to celebrate Sin City’s 30th anniversary.That led to record sales, including auctions Original Sin City artwork Sold by Miller for $ 840,000. (CEO of Concept Art House, James Chan Moderates Our Panel GamesBeat Summit Next Online event from November 9th to 10th. )

“The combination of fan community and art adds value to NFTs,” said James Zhang, CEO of Concept Art House, in an interview with GamesBeat.

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According to Zhang, the company is currently at the crossroads of NFTs, art and games.

Above: James Zhang, CEO of Concept Art House.

Image Credit: Concept Art House

The NFT market soared to new highs in the third quarter of 2021. Sales of $ 13.2 billion In the first nine months of the year, according to DappRadar. NFT exploded in other applications Art, sports goods, music, etc. NBA top shot (Digital take of collectable basketball cards) is one example.

Published by Dapper LabThe NBA Top Shot has sold over $ 780 million in just one year.When NFT Digital Collage Artist Beeple sold it at Christie’s for $ 69.3 million. Investors are pouring money into NFTs, and some of them are game fans. NFT weekly earnings crashed after peaking in May, but in August and September Revenues increased again, decreased, and then stabilized..

Many investors

Above: An investor in a concept art house.

Image Credit: Concept Art House

Concept Art House has raised funds from both existing and new investors. They included venture capital funds, major NFT platforms, and individual investors, including CEOs of digital entertainment companies.

Investors include Dapper Labs, Animoca Brands, Anthos, Appworks, Blockchain Coinvestors, Fabric VC, Hashkey, Liberty City Ventures, One Football, PKO Investment, Polymorphic Capital, Protocol Labs, Redbeard Ventures, Spartan Group, Jeff’Jiho’Zirlin (Axie -Infinity), Gabby Dizon (Yield Guild Games), Vinny Lingham (Civic), and Kevin Lin (Twitch). Steve Aoki is an advisor.

The investor base emphasizes the diverse product needs of concept art houses and their push into the NFT realm under the fast-growing crypto art house sector.

Mik Naayem, co-founder of Dapper Labs, has joined the board of directors of Concept Art House. Zhang’s board of directors also includes chairmen Matthew Le Merle and Jenny Chen, and Concept Art House will nominate additional members with NFT knowledge to the board.

Roham Gharegozlou, CEO of Dapper Labs, said: Our belief in Concept Art House is based on a bullish prediction that it will continue to be a creative powerhouse in the areas of digital content and NFTs. This is directly apparent from the collaboration and collaboration on many exciting projects, including upcoming UFC Digital. Collective experience. “

origin

Above: There are 80 people in the concept art house.

Image Credit: Concept Art House

Zhang was a longtime creator of video game art, starting with his first job at Lucasarts. He created Star Wars: Republic Commando’s Star Fighter. The 3D image consisted of 1,000 polygons. This is relatively primitive by today’s standards.

He launched Concept Art House in 2007 to create concept art for games. It was an important job that stimulated the imagination of game developers, but for many years it was a small business. He expanded the company by raising money from then-Telltale executive Matthew Le Merle.

As games became more important, so did work.

“We were always really good at concept design,” Zhang said. “The plan was to do enough contract work, like outsourcing, to create our own intellectual property.”

With offices in Shanghai and Chengdu, the company sought to create its own game for the Chinese market. But they didn’t take off and the company refocused on outsourcing. Currently, the company has about 80 employees. The team specialized in managing the large amount of art coming from the Chinese team and making sure it was what the game studio leaders wanted.

“We were able to provide the highest quality,” Zhang said.

Blockchain art

Concept Art House makes a lot of NFT art.

Above: Concept Art House makes a lot of NFT art.

Image Credit: Concept Art House

The business survived and there were ups and downs. But Zhang has begun to pay attention to blockchain (a transparent and secure digital ledger) and cryptocurrencies that use blockchain. He started investing in blockchain startups through Fifth Era and Blockchain Coinvestors.

“I personally started looking into it and was excited about what it meant,” Zhang said. “In the case of games, it wasn’t practical until CryptoKitties came out. We saw you could make rare digital art. We knew it would be confusing.”

Ultimately, there were 30 unicorn investments in the latter fund.

And Concept Art House has begun to supply a lot of artwork for NFT goods.

“Ultimately, it was the blockchain game NFT that led to this high rating,” said Zhang. “We provide art content across a variety of protocols.”

Zhang said the new capital will grow 30% year by year and will be allocated to the ongoing building of teams to consider opportunistic acquisitions, build NFT libraries, and secure and add new dimensions to larger licenses. Said. Deals.

“As an investor in blockchain and digital content, we pay close attention to creating reputation in this area. CAH is before the fastest growing and most exciting tailwind this space offers. “I’m sitting in,” said Le Merle, who also manages it. A partner of Blockchain Coinvestors, a blockchain venture fund.

Concept Art House has helped ship over 1,000 games. He has worked on titles such as Call of Duty: Mobile, Fortnite, Game of Thrones: Conquest, Hearthstone, League of Legends, Magic: The Gathering, Marvel: Contest of Champions, NBA 2K Series, Roblox, Player Unknown’s Battlegrounds. .. The company supports the shipment of 70-80 games annually, which is also the reason for its adoption. Where to place these new hires is an interesting question.

“The top NFT project is working well with an art team of three or four people,” said Zhang. “And there is something like a shortage of people doing the art needed in this area.”

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Concept Art House Raises $ 25 Million to Create NFT Art and Games

https://venturebeat.com/2021/10/19/concept-art-house-raises-25m-to-create-nft-art/ Concept Art House Raises $ 25 Million to Create NFT Art and Games

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