Kunst21.com receives second financing: Stellar Community Fund grant

September 30, 2021

At the beginning of the month we shared with you the news that we were in the second phase of the Stellar Community Fund round 8, from San Francisco, that promotes the development in Stellar blockchain. We are now pleased to announce that we are amongst the winners and we have received  the requested budget of approx. 90.000€ to further develop the platform.

The path towards Stellar

With our main goal in mind, building an exchange for paintings, choosing the right technology and achieving it  with few resources was important. When we heard about blockchain being used for finance, further more than for payments, we gave it a try. Due to the uncertain and high costs of Ethereum this network was discarded, and moved to develop our own private blockchain, by that time just the founder Felipe Branch was involved. A private blockchain is neither a good idea for a small team.

After thorough research on cost-effective public blockchains Stellar was founded, it is not just being cost effective but also has  its own orderbook built that allows an exchange to easily operate.  Since that moment the project took off.

The grant, its application process, a community work behind

The application process started at the end of July until the end of August, we presented a business plan, we did further processing after feedback from the community during the first 2 weeks of September. The community had 2 weeks to vote and select the top projects. The judges were: former awardees, workers of the Stellar Development Foundation and blockchain developers. For the application we had the extra help of a marketing professional.

The future ahead

We are working on a roadmap to give detailed dates for the implementation. From the technology side, via private wallets, it is ready to launch, but we are still taking care of the right legal approach under German and European laws. For the time being we are discussing a technology approach easier to be applied and used by the general public.

Thanks to this grant Alejandro and Raúl will be able to afford a more active role in the platform development.

We are hiring talent in Dresden, help us with marketing and PR.  https://www.kunst21.com/jobsoffers

If you are an artist, apply to sell a painting to our platform. Contact us: info@kunst21.com