Tuesday, March 29, 2022

Cosmic Wire Acquires ArtsGalore For $31.5M

Los Angeles-based Cosmic Wire, a company that offers up a way for brands, celebrities, artists, and others to promote, license, and sell their work using blockchain and NFTs, says it has acquired ArtsGalore in a deal worth $31.5M. ArtsGalore is based in Dubai. According to the company, ArtsGalore is a provider of fine art and "one-of-a-kind custom automotives" as well as NFTs. As part of the acquisition, Cosmic Wire said that ArtsGalore's founder, Mohamedali Rashid, has joined the company as Chief Revenue Officer.