Thesis-driven venture studio 021 has secured a controlling interest in ArtsDAO, the largest Web3 community in the Middle East, as part of a strategic initiative to enhance its presence within Dubai’s blockchain sector.
This acquisition allows 021 to tap into ArtsDAO’s regional influence and support Dubai’s burgeoning reputation as a global Web3 center, as stated in a recent announcement.
Established with the aim of merging art, culture, and blockchain innovation, ArtsDAO has evolved into a vibrant community boasting 800 members. It operates a newsletter with 40,000 subscribers and has amassed a social media following of 300,000. The organization is also recognized for hosting ArtsDAO Fest, an event that attracted 4,000 participants and was showcased in an Amazon Prime documentary highlighting Web3 projects.
Strategic Growth
This acquisition is indicative of 021’s comprehensive strategy to invest in ventures that are community-focused and blend culture with blockchain technology.
“This acquisition reflects 021’s larger vision concerning the evolution of communities and membership networks. A segment of our portfolio is centered on developing culturally relevant and community-centric initiatives,” commented Nigel Van Broekhoven, founder of 021.
021 has been actively working to broaden its involvement in lifestyle and membership-based projects. This year, it introduced Midnight Club, an exclusive members’ collective for leading founders, investors, and culture curators. Midnight Club has hosted events in cities like Miami, Singapore, Ibiza, and Dubai, and is partnering with Luxury Rally Club to create an on-chain car marketplace for over 4,000 car enthusiasts.
“ArtsDAO has cultivated an unmatched Web3 community in the Middle East, and we see tremendous potential for amplifying its vision,” said Charles Plenet de Badts, executive chairman of 021 and newly appointed chairman of ArtsDAO. “With the UAE’s swift rise as a global Web3 center, ArtsDAO is the ideal partner for 021 to harness and enhance this growth.”
Changes in ArtsDAO Leadership
In the wake of the acquisition, there will be significant shifts in ArtsDAO’s management:
- Charles Plenet de Badts will take on the role of chairman of ArtsDAO.
- Danosch Zanedi, co-founder of ArtsDAO, will transition from CEO to vice-chairman and will also assume the role of CEO at The Block.
- Rahim Mahtab, co-founder of ArtsDAO, will be appointed president and interim CEO.
- Maria Sultanova will maintain her position as chief operating officer.
- Dan Rozenberg, co-founder of 021, will be appointed head of partnerships at ArtsDAO.
“021 immediately recognized the intrinsic value of ArtsDAO and is providing the necessary resources for this exciting new phase,” said Rahim Mahtab, co-founder and interim CEO of ArtsDAO. “With 021’s support, we aim to amplify our impact, introduce new offerings for our members, and further solidify Dubai’s leadership in blockchain and digital culture.”
Future Goals for ArtsDAO
Backed by 021, ArtsDAO intends to enhance its partnerships and broaden its offerings for creators, artists, and blockchain enthusiasts. Previously, ArtsDAO has collaborated with industry giants such as Ledger, Etihad, BMW, Bybit, Yuga Labs, Mercedes-Benz, Doodles, and Chimpers.
The strategic resources and connections from 021 are anticipated to enable ArtsDAO to amplify its influence, launch new membership benefits, and lead the charge in blockchain and cultural innovation across the Middle East.