Web3 Technology leader Cosmic Wire has acquired Dubai-based ArtsGalore for $31.5 Million dollars. ArtsGalore specializes in fine art and one-of-a-kind custom automotives and develops NFTs focused on their renowned collection to the Metaverse. Company founder, Mohamedali Rashid, joins Cosmic Wire as Chief Revenue Officer.
ArtsGalore became Dubai’s first street art and NFT gallery with over 25 artists including The Conner Brothers, Vesa, and Pure Evil. The store broke ground by introducing Dubai to Web3 technologies and helped create the local market. Entrepreneur Mohamedali Rashid had a clear vision of how to execute his vision and will now join the C suite at Cosmic Wire and lead the newly added Dubai Cosmic Wire Offices.
Cosmic Wire assets now include ArtsGalore owned and licensed content for use in the creation, launch, distribution, marketing and promotion, and additional licensing of Non-Fungible Tokens including NFT membership access tokens, and other digital products. Cosmic Wire will bring the entire ArtsGalore collection to the Metaverse so collectors to be viewed and purchased via exclusive NFTs
“The mission of ArtsGalore remains true. We will make luxury fine art & NFTs more accessible while also helping creatives from around the world. Thorough this acquisition, and its stewardship by Cosmic Wire, will enable ArsGalore to fully realize its potential which will also include additional locations in Miami, Las Vegas, Seoul, Shanghai, Tokyo, and London. I look forward to contributing to the continued growth of both ArtsGalore and CosmicWire,” said Mohamedali Rashid Founder ArtsGalore & Chief Revenue Officer Cosmic Wire.
“Bringing Mohamedali Rashid to the Cosmic Wire team and acquiring ArtsGalore further paves the way for global cosmic wire success,” added Cosmic Wire CEO Jerad Finck. “Expanding into Dubai provides tremendous opportunity and leadership advantages”.
