HONG KONG — Artifact Labs, a Web3 company dedicated to “Preserving and Connecting History on the Blockchain,” has acquired the source code of Refinable Limited, the premier Web3 platform for NFT creators, for an undisclosed amount.

Artifact Labs initially emerged as a Web3 project within the South China Morning Post (SCMP) and has since collaborated with major cultural institutions, such as RMS Titanic Inc and The Hong Kong Philharmonic Orchestra, to launch notable NFT projects.

This acquisition will enable Artifact Labs to accelerate the development of its Web3 product roadmap, including the creation of a decentralized NFT marketplace.

By integrating Refinable’s tech stack into its own initiatives, Artifact Labs will benefit from the innovative features Refinable has introduced over the past two years, including creator tools, no-code accessibility, and an NFT-as-a-Service model.

“We are thrilled to have reached this agreement with Refinable to acquire their highly innovative tech stack,” said Phillip Pon, CEO of Artifact Labs.

“The team at Refinable has done an excellent job of building a robust, scalable platform for the creation and exchange of NFTs. This tech will now allow Artifact Labs to rapidly accelerate our product roadmap and continue our mission to serve culturally significant organizations exploring Web3 business models.”

The acquisition comes as NFTs and digital assets are attracting increasing interest among consumer brands and heritage organizations.

Artifact Labs aims to onboard culturally significant brands and IPs into Web3. The creation of its decentralized marketplace for NFTs is one major key to achieving that goal.

“It’s exciting to see Refinable enter this next stage as an extension of Artifact Labs,” said Nicholas Chan, Co-founder of Refinable

“Our vision and values are very much aligned, with a shared mission to reduce friction for businesses transacting onchain with digital assets. This acquisition is also heartening validation of the years of work our team has put into building an innovative platform that enables widespread NFT adoption.”

Artifact Labs is an independent Web3 and NFT company building blockchain strategies, products, and platforms that serve organizations with historical IP.

The company is on a mission to ‘Preserve and Connect History’ on the blockchain, and enable all guardians of history to maximize the impact of their most valuable assets by tokenizing them as ‘ARTIFACTs’.

Artifact Labs is a one-stop solution for partners looking to launch unique NFT projects and build in Web3, providing support through advisory services, product development, blockchain engineering, and community management.

All ‘ARTIFACTs’ are connected via a proprietary metadata standard that is governed by the non-profit Artifact Foundation, which allows for the verifiable authentication and global discovery of historical NFTs.

Refinable is a full-service NFT business platform providing no-code solutions for users to create, distribute, and activate onchain assets.

Create white-label aggregated marketplaces, and monetize new or existing collections on Ethereum, BNB Chain, and Polygon all within Refinable’s fully decentralized Creator Suite platform.

The company has previously worked with Digital Art Fair Asia, 9GAG, FWD, and others to promote and empower digital creators.