NFT Platform TRLab Raises $4.2M to Diversify Its Artwork Collection

The Hong Kong-based platform is co-founded by the non-executive deputy chairman at Christie's, Xin Li-Cohen.

AccessTimeIconJan 26, 2022 at 12:00 p.m. UTC
Updated May 11, 2023 at 4:08 p.m. UTC

TRLab, a platform for collecting art in the form of non-fungible tokens (NFT), raised $4.2 million in a funding round, according to a press release shared with CoinDesk.

  • The company will use the funds to diversify its collection and add art projects of "varying scope and scale, ranging from full-production genesis drops to curated multi-artist projects united along a common theme, to large-scale editions that integrate shared learning and direct access to artists into the collecting process," the statement said.
  • The platform is geared towards the higher end of the contemporary art market, with one listed artwork by Chinese artist Cai Guo-Qiang selling for $2.5 million in July.
  • NFTs saw breakthrough adoption in the world of expensive art last year, and featured in the catalog of world-renowned auction houses like Sotheby's and Christie's, where Digital artist Beeple sold an NFT for $69 million in March.
  • The new funds bring TRLab's total fundraising to $6.2 million. Incubated by Dragonfly Capital and launched in May, the Hong-Kong based company is co-founded by Xin Li-Cohen, who is also non-executive deputy chairman at Christie’s, and Audrey Ou.
  • The round saw participation from funds including Animoca Brands, one of the world's most valuable NFT and metaverse venture capital firms; Bertlesmann Asia Investments (BAI), the Asian VC of German media and education conglomerate Bertelsmann; Hong Kong-based Kenetic Capital; INCE Capital; Metapurse; Plutus Capital; StableNode, a project that uses blockchain validator rewards to invest; and Willoughby Capital.
  • From the art world, WhaleShark, the Digital Renaissance Foundation, Pace Gallery and its associated Web 3 arm Pace Verso joined the funding, as well as art collectors Adam Lindemann, Pablo Rodriguez-Fraile and Svetlana Kuzmicheva-Uspenskaya. Art entrepreneur Loic Gouzer also joined the round. Private investors like Marc Bhargava, Gabby Dizon, Sabrina Hahn, Andrew Steinwold, Olivia Wang, and Jennifer Zeng, also invested.
  • TRLab plans to announce two new NFT projects as well as expand its membership benefits, this quarter.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Eliza Gkritsi

Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI.