Former Ledger Exec Jean-Michel Pailhon Is Raising $25M NFT Art Fund

According to The block, former Ledger executive Jean-Michel Pailhon is raising up to $25 million for an NFT art fund that will prioritize blockchain art with “cultural impact.” The fund hopes to primarily attract non-native crypto investors, with a particular focus on institutions that already own physical artwork and want access to blockchain-based NFT artwork. As of last week, the fund had secured $2-3 million in soft commitments from private bankers and family offices. Jean-Michel Pailhon left last month after nearly six years at crypto wallet maker Ledger.