Please welcome Danvas, a startup bringing NFTs and digital art into the real world
Meet Danvas, the latest addition to Lerer Hippeau’s portfolio.
HQ: Los Angeles
Founder: Hernan Lopez and Jeanne Anderson
The problem: The traditional global art market represents $60 billion in value per year. And as NFTs (non-fungible tokens) grow in prominence and recognition, digital art will boom as well. In fact, NFT sales in 2021 are on track to reach nearly $13 billion. Bringing NFT-based digital art into the art world will maintain some aspects of what makes art valuable, and will disrupt others — while scarcity will remain, certifying ownership and provenance may become more challenging. Models for monetization will change irrevocably. And we will need to see innovation in display technology in order to modernize how we consume and share digital art. To date, technology has not kept up with these shifts.
Danvas’ solution: Danvas brings NFTs and digital art into the real world through a specialized, museum-quality display. The company is developing the world’s first premium, luxury, digital art canvas, and aims to accelerate the world’s appreciation for digital artists and their artwork, as well as introduce collectors to the beauty and value of digital art. Danvas’ screens will feature a fully dimensional, interactive design aimed to bring NFT digital art to life and will reinforce authenticity in ownership of the NFT artwork itself. Importantly, they’ll also be square in shape, as legacy screens (often just TVs) are rectangular, but most NFT art is square. The resolution of the displays will be top-notch, as digital art needs to be displayed in extremely high definition, plus they’ll offer interactive features. Danvas views this moment as the beginning of a real art renaissance, which the technology hasn’t been ready for — until now.
Origin story: We have known co-founder Hernan Lopez for quite some time: we backed him and his previous company Wondery, which recently sold to Amazon. When he and Jeanne Anderson, Danvas’ CEO and co-founder, connected on their shared love of working with artists and creators, their optimism about this moment in art history sold us, too. Hernan and Jeanne’s backgrounds as a successful operator and an art world aficionado with marketplace experience, respectively, make them the perfect team to build this product.
Why we’re betting on it: Our enthusiasm for Danvas is manifold. We’re excited about the NFT space generally and the technologies enabling their proliferation. But the art world, in particular, has been historically challenging to disrupt and democratize. Bringing digital art NFTs into homes, hotel lobbies, offices, and public spaces of all sorts will bring art to the masses. And Danvas’ digital canvases will enable the utmost creativity and flexibility — owners can switch out artwork to accommodate their whims and seasons, and they can access a wider range of cutting-edge, world-class pieces for all occasions.
Our take: NFTs are already meaningfully adjusting the way we think about ownership, commodification, and beauty. They’re going to be huge, and so are the technologies enabling them. Art has been among the first real use cases for NFTs. The enthusiasm around digital art has been tremendous, and so the technologies recognizing that momentum will go far, and fast.
Further reading: “Danvas Announces Launch with $7 Million Seed Funding Round” via Danvas