setting the scene
- you’re interested in collecting NFTs and decide to make your first purchase 💲
- when you show off your new digital art to your friends, you’re met with skepticism 😢
- “that’s art? it looks like a picture on your phone screen” 🤨
- “what’s stopping someone from screenshotting that image?” 🤔
- “is a non-fungible token a type of mushroom?” 🍄
- NFTs are disrupting the art world, but artists and collectors face difficulty sharing and displaying art irl
- this week’s company brings digital art to the real world with a museum-quality frame
in a sentence
Danvas provides a tech-enabled display that showcases NFTs and digital art
- tech-enabled: lighting, sound, and sensors create an interactive viewing experience
- display: a luxury, museum-like frame that connects to smart devices
- NFTs: a light at the bottom of the canvas verifies ownership
bulleted version: today, the best way to display NFT art pieces is to showcase them on a tv screen, which is equivalent to duct taping a poster to your wall; Danvas’ product improves the display of NFT art at any location 🖼
the basics
- industry: art, hardware, NFTs
- headquarters: Los Angeles, CA 🏄🏻♀️
- year founded: 2021
- company size: <10 employees 🧳
- investors: Greycroft, Lerer Hippeau, Waverley Capital, Vayner/RSE + VaynerX Fund (Gary Vaynerchuk), UTA Ventures, BDMI, BAM Ventures, Watertower Ventures, Rich Greenfield, Jason Nazar, Jon Goldman, Walter Piecyk
- amount raised: $12m post seed funding 💰
- business model: b2c
sponsored by
- do you want to learn and access the best tools and resources to turn your startup idea into something tangible?
- Founders’ Book offers a single workspace for building and growing your startup, so you can save up to $500K in credits and benefits from 200+ SaaS platforms
- use the code “BulletPitch” and save 30% on all the plans; get founders’ book now
due diligence
what we like
- 🌉 playing in two sizable markets: Danvas is bridging the $17b NFT-based digital art market with the largely undisrupted, $65b global art market
- 💥 expansion opportunities: by building solutions for discovering, displaying, and sharing NFTs, Danvas’ product roadmap has the potential to take many directions
- 🌱 growing their own market: by helping digital artists connect with audiences and collectors to showcase their purchases, Danvas will encourage artists to continue creating and collectors to keep buying
potential risks
- 💰 luxury product: while NFTs make art ownership more accessible, Danvas’ product may bring digital art closer to the exclusive art market
- 1️⃣ and done: collectors only need one frame to display as many pieces as they wish
- how will the company keep customers interested after purchasing the frame?
- 📉 NFT sales growth: the decline of NFT sales volume in recent months makes the market’s future growth unclear
weekly cartoon
founder profiles
- Hernan Lopez (prev. founder @ Wondery)
- Jeanne Anderson (prev. @ Saatchi Art)
comps
why Danvas: Danvas offers a quality, disruptive solution that enables NFT art to be shown how the artist intended; it’s easy to picture Danvas driving the transformation of the digital art market 🎨
what do you think about this startup?we want to hear from you! |
