Swarm, a non-profit providing open infrastructure for digital securities, announced today that TheArtToken (TAT), an investment opportunity issued using Swarm’s technology, has exceeded its first funding goal with over USD $5 Million committed.
“Earlier this month we announced two major advancements for digital assets: the launch of TheArtToken and of Swarm’s new fiat investor gateway powered by Mercury FX. It is no surprise that days later, we are seeing TAT reach their first funding target, with many investors choosing to use fiat currencies to purchase TAT,” said Philipp Pieper, CEO and Co-Founder of Swarm. “Investors seek familiarity and trust, and the offerings from the teams at TheArtToken and Mercury FX intersect on Swarm to bring investors a tangible investment opportunity and the ability to safely invest using their currency of choice.”
TAT empowers investors to profit from the combined benefits of the newest open blockchain technology and the oldest man-made tangible asset in the world, art. Each TAT purchased represents fractional ownership of a collection of Post War & Contemporary Art managed by the experts at Fine Art Digital, which is stored in a Swiss bonded warehouse secured by the Swiss government.
Mercury FX, a trusted global currency specialist, operates Swarm’s fiat investor gateway. Through this integration, investors using Swarm’s platform can now commit funds using over 30 fiat currencies, including USD, EUR, CHF and GBP. Swarm investors can also choose to commit funds using cryptocurrencies Bitcoin (BTC), Ethereum (ETH), Dai, Dash, and SWM.
The TAT sale continues on Swarm, with Phase 1 of the sale featuring a 30% discount through Dec 25th, or when $7 Million has been raised. TheArtToken team aims to raise a minimum of $16 million by mid-January 2018.