Morningstar Ventures invests $5 million to open 37xDubai, a cutting-edge NFT art gallery in downtown Dubai

DUBAI, DECEMBER 15, 2022 – Morningstar Ventures, an investment firm specializing in digital assets and blockchain technology, is opening its first interactive digital art gallery in the heart of Dubai. Located in the Burj Daman Tower (DIFC area), ’37xDubai’ is located in the middle of Dubai’s business and lifestyle hub.

37xDubai aims to unite art and technology by focusing on web3 education, traditional art, digital art, entertainment and community. A carefully curated art collection mixed with digital experiences will make 37xDubai much more than just a gallery. Through educational programs, private events and monthly meetups, 37xDubai will cultivate a global community of digital art enthusiasts.

Featured artists will be able to tap into the Morningstar Ventures and 37x network and expand their reach by engaging with a new influx of web3 enthusiasts. The modular technology behind the 37xDubai gallery allows for frequent changes to the collections on display, keeping the creative space fresh and adaptable to various concepts.

Clemence Cazeau, CEO of 37xDubai, said: “Our gallery design and architecture is highly sophisticated, packed with state-of-the-art equipment, interiors, sound and lighting infrastructure. We have meticulously hand-selected every element of the space to ensure that the 37xDubai gallery and its exhibits are presented in an unforgettable way for each of our visitors.”

Morningstar Ventures co-founders Danilo S. Carlucci and Arut Nazaryan are two young Dubai-based entrepreneurs who were early investors in web3 and are affiliated with the entertainment and luxury industries. In early 2021, the couple met with Clemence Cazeau, who brings years of art, gallery and auction house experience.

The global NFT market is projected to reach 23.9% between 2022 and 2028. In the United Arab Emirates, 23% of people own at least one NFT, ranking the region first compared to Europe (8%) and USA (2.8%). MoMa, Sotheby’s and other institutional players in the art scene have also opened initiatives related to NFT or metaverse or have shown interest in the space recently.

The 37xDubai team is in the late stages of the development process and has already captured the interest of a variety of exclusive partners from the luxury, art, fashion and lifestyle sectors. 37xDubai will open its doors just before Art Dubai, which will take place in early March 2023. Details about the grand opening will be released in January.

About 37xDubai

37xDubai is an immersive and interactive art gallery focused on NFTs, web3 education, traditional art, digital art, entertainment, and community development. Aiming to unite art and technology by showcasing a carefully curated art collection mixed with digital experiences, 37xDubai is more than just a gallery. The unique concept is led by CEO Clemence Cazeau and backed by Dubai-based web3 investment firm Morningstar Ventures. 37xDubai is located in the Burj Daman Tower (DIFC area), in the heart of Dubai’s business and lifestyle hub, and will open in Q1 2023.

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