“Newchip evaluates a vast and diverse number of seed-stage companies from around the globe, selecting only a small percentage to be part of our Seed Accelerator program,” says Brian Lee, Head of Product at Newchip. “This careful vetting process of both the business model and founder makes us an ideal partner for venture capital investors and other key stakeholders in seed-stage startup financings looking for promising startups that are beginning to generate traction and revenue. Web3 and machine learning companies like ATO Platform can scale quickly with proper funding and guidance. We are excited for ATO Platform and believe they will be well positioned to take advantage of our fast-expanding global ecosystem at Newchip.”
Launched in July 2017, ATO Platform’s mission is to bring true equality by providing valuable insights to artists and collectors while facilitating the collection of a new revenue stream for all visual artists (royalties on secondary market sales). Since launching, the company has worked with Prysm Group to develop its economic model of give-and-take, providing collectors with unparalleled value to understand the market demand and price of the artwork they’ve purchased. It has secured advisors and investors from Microsoft, MIT, and key art world mavens deep in the trenches of the art world. It has completed building proprietary smart contracts that track not only art resale data but all of the metrics around the work to aid in preventing a counterfeit market and complex copyright misuse. ATO Platform has secured a “US Trademark, raised over 1 million dollars (USD) in funding since its inception, and hired vital art industry, finance, A.I., and blockchain experts previously with Polkadot, UBS, Morgan Stanley, Goldman Sachs, NYU Stern Business School, Harvard University, Kellogg School of Management and more on this impressive roaster of leaders. ATO Platform has registered over 600 works with close to 100 artists and growing.
“Being part of the Newchip Accelerator, we look forward to reshaping how the art industry views artists in the scope of the artwork lifecycle. We believe artists should benefit financially long-term in the future value of the work because the future value of the work is dependent on the artists’ brand and continued production,” says Carrie Eldridge, Founder, “funding would mean exponential growth for the company and new jobs for marketing, sales, and engineers to advance these valuable tools for artists and collectors.”
About ATO Platform
The ATO Platform is a SaaS that facilitates the payment of artist royalties, tracks artwork values, and protects against the emergence of counterfeits across the physical and virtual art markets led by an expert team of technologists and art-world leaders. ATO enables participants from the arts ecosystem to track works and information while strengthening their connections. ATO generates revenue from the sale of artwork registration and retains a commission from royalties collected on behalf of artists. The proprietary machine learning tool monitors for complex copyright misuse and potential upcoming sales.
Newchip is an online, global startup accelerator led by a world-class team of entrepreneurs and investors. It was designed to provide founders with the tools needed to fund, build, and scale rapidly. Since its inception in 2019, the equity-free, remote accelerator has enabled over 2,500 startups from 50+ countries to raise over $2.2 billion in funding with an estimated $9B portfolio. It has three six-month accelerator programs based on the company stage: Pre-Seed, Seed, and Series A. Its vast network of global investors, strategic partners, and mentors guides companies from team building and prototype development to securing high-profile VC investment, corporate partnerships, and everything in-between.