How Blockchain-Based Folio Hopes to Solve the Art World's 'Big Problem'

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

Image courtesy of Folio

For Joey Primiani, designing a new NFT marketplace is just the latest stop in what’s been a long and fascinating trip through the world of tech.

After stints at Google and Cortex and a gig developing Lady Gaga’s online fan community, Primiani, together with business partner Mirko Kiefer, unveiled his latest venture this week: Folio, a social network that offers artists a platform and tools to showcase their NFT creations.

Billing itself as the “first mobile NFT marketplace and social network,” Los Angeles-based Folio is an invite-only community allowing artists to promote their work, collaborate with other artists and connect with NFT collectors. The platform, which is accessible via iOS app or web browser, is meant to act as both a digital portfolio for artists and a tool allowing collectors to search and discover digital art. Artists decide what price they want to sell their art for, and Folio takes a cut of every work sold.

Primiani told dot.LA that the idea was motivated by the difficulties those in the NFT art community can face when accessing various online platforms, such as setting up and logging in through digital wallets like MetaMask.

“The onboarding experience is a pain point for a lot of artists that we really want to solve,” he said. “We want to make that an easier experience so that more people can use it.”

Primiani first interned at Google in 2009, where he helped design the Silicon Valley giant’s search products, and later worked as a designer at the Google Labs tech incubator. From there, he went on to work with Lady Gaga to create, a social network for the singer’s devoted fan following. It was his work with the renowned entertainer that turned Primiani onto the idea of creating a marketplace of his own—particularly one focused on showcasing LGBTQ+ and underrepresented artists, which is a focus of Folio’s.

“The big problem in the art world previously was that a lot of people were making art for the galleries, and now they're actually making it directly for the fans and the consumers,” he said.

Primiani’s dream came closer to fruition after he connected via Twitter with Mirko Kiefer, an engineer and blockchain entrepreneur. After some workshopping, they officially—and quietly—created Folio in 2020. The platform was in private beta testing in recent months, during which time the founders were completing a Web3-focused residency at L.A.’s Launch House accelerator. (Creatives such as Pol Kurucz, Zigor, and Marc Hemeon had access to the beta product.)

“We really wanted to be one of the first to really nail that experience, because it's so new and platforms couldn't handle a lot of the demand that was happening,” Primiani said.

Folio and its small five-person team is still in its pre-seed stages and has bootstrapped all of its funding to this point. Primiani said any new funding will go toward hiring both in L.A. and remotely, and to grow and scale the company.

“I think we're only at like 5% of what's possible,” Primiani said of the blockchain-enabled internet known as Web3. “It kind of feels like the internet in the ‘90s, where it's like the wild West and anything's possible.”

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Energy Shares Wants to Offer You a Chance to Invest in Green Energy Startups

David Shultz

David Shultz reports on clean technology and electric vehicles, among other industries, for dot.LA. His writing has appeared in The Atlantic, Outside, Nautilus and many other publications.

Energy Shares Wants to Offer You a Chance to Invest in Green Energy Startups
Photo by Red Zeppelin on Unsplash

The Inflation Reduction Act contains almost $400 billion in funding for clean energy initiatives. There’s $250 billion for energy projects. $23 billion for transportation and EVs. $46 billion for environment. $21 billion for agriculture, and so on. With so much cash flowing into the sector, the possibilities for investment and growth are gigantic.

These investment opportunities, however, have typically been inaccessible for everyday retail investors until much later in a company’s development–after an IPO, usually. Meaning that the best returns are likely to be captured by banks and other institutions who have the capital and financing to invest large sums of money earlier in the process.

That’s where Pasadena-based Energy Shares comes in. The company wants to help democratize access to these investment opportunities and simultaneously give early-stage utility-scale energy projects another revenue stream.

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How These Ukranian Entrepreneurs Relocated Their Startups to LA and Found Success

Aisha Counts
Aisha Counts is a business reporter covering the technology industry. She has written extensively about tech giants, emerging technologies, startups and venture capital. Before becoming a journalist she spent several years as a management consultant at Ernst & Young.
How These Ukranian Entrepreneurs Relocated Their Startups to LA and Found Success
Joey Mota

Fleeing war and chasing new opportunities, more than a dozen Ukrainian entrepreneurs have landed in Los Angeles, finding an unexpected community in the city of dreams. These entrepreneurs have started companies that are collectively worth more than $300 million, in industries ranging from electric vehicle charging stations to audience monetization platforms to social networks.

Dot.LA spent an evening with this group of Ukrainian citizens, learning what it was like to build startups in Ukraine, to cope with the unimaginable fear of fleeing war, and to garner the resilience to rebuild.

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