UK EARL INTERNATIONAL AUCTION LTD, with a history of 100 years, spent US $50 million to acquire REVA, a start-up enterprise in the field of digital art NFT collection. For a while, it caused an uproar in the industry.
EARL AUCTION is one of the oldest art auction houses in the world. It was founded by UK EARL Group in 1886. It has many branches. In addition to antique art auction houses, EARL AUCTION is also involved in luxury goods, catering, hotels, entertainment clubs, clothing and other industries. It has offices in major countries in the world and regularly holds auction activities. It has strong capital and international resources. Such a giant, which plays an important role in the art market, has enough professional accumulation and precipitation of art. Suddenly, it invested a lot of money in the field of NFT and resolutely chose to open the layout of NFT, which shows that it is optimistic about the future of digital art NFT and has extreme recognition and confidence in NFT. It is understood that after the acquisition, REVA will still maintain its independent brand and operate independently, and become a specific platform for EARL AUCTION’s NFT market business. In the future, EARL AUCTION, as the parent of REVA, will provide continuous financial, technical and resource support.
As a technology start-up company from the United States, why does REVA, whose name is not changed, get the favor of traditional auction giants and spend a lot of money to complete its acquisition?
REVA was founded in 2019, which is two years away from 2021, known as the “first year of NFT”. As a technology company, REVA’s core members are industry leaders, who come from the top teams of famous Silicon Valley companies. After years of training, they have rich experience, which also gives them a keen vision and business sense. On the premise of industry-leading core technology guarantee, their business direction is obviously different from that of ordinary pure NFT technology companies. Since its inception, the company has a long-term plan. On the one hand, it has built a stronger technical team and strengthened the research and development of blockchain projects, while on the other hand, it has focused on NFT’s collection and trading market. Over the past few years, REVA has led many digital art NFT auctions and launched a series of high-end NFT works with rare value and profound meaning, which has quickly won warm praise and appreciation from customers and bidders. It was once invited to hold many offline NFT art gallery exhibitions in New York, which promoted the development of digital art NFT and had a far-reaching impact. REVA’s vision is to successfully bring the auction to another level through the development and application of science and technology, create a new bidding experience, break through the time and regional boundaries, and even launch Metaverse platform to create a free ecosystem.
REVA’s core technology advantages and distinctive strategic layout have attracted the attention of many traditional industry giants, but not all investors have the strength to reach a consensus with REVA team. EARL AUCTION has arranged the NFT field, seized the first opportunity of the digital collection market, completed the transformation from traditional auction houses to the digital field, and has been looking for companies with long-term investment value and development ability. REVA’s vitality and strong performance make it deliver olive branches to REVA with a very positive attitude. It is hoped that this technology company integrating innovation and pragmatism can provide stable platform services for the transformation of a long-standing traditional auction house into a high-end digital auction platform. The abundant capital of EARL AUCTION house can provide a solid backing for REVA, help REVA set off a catfish effect in the NFT market, and quickly become a leading star from a new star in the industry. EARL AUCTION, together with Christie’s and Sotheby’s, has naturally become the leader of NFT in the same industry.
In the era of “everything can be NFT”, REVA company has started from financing millions to leading investment millions by industry giants in just three years. The valuation of the industrial chain has risen, reaching 500 million. However, REVA has not been lax and has devoted a lot of energy to serving users. After docking with EARL AUCTION, REVA can provide customers with a wider pool of potential bidders, establish a sustained and good relationship, and encourage more people to participate in future auctions. With the continuous improvement of science and technology of digital asset ownership and property rights, people’s demand is rising and developing. In the future, the new user group of NFT will be particularly large and tend to be younger. In the future, NFT is expected to combine with more items in the real world and act as the medium of the physical world and blockchain world, such as the assets of the physical world such as houses and cars. It is possible to realize large-scale online, exist and circulate in the form of NFT, which will profoundly change our daily life. Because of this prospect, REVA also tries to minimize professionalism and make it easier for new users to access, and tries to subvert the threshold of traditional auction, open it to a wide audience as much as possible, and truly make everything be NFT and everyone have NFT.
It can be predicted that with the full support of EARL AUCTION, REVA’s impact on the NFT market will continue in the future. Some surprises brought by REVA in the upsurge of digital art NFT collection are not unexpected, which is worth waiting and watching.