The 37xDubai art gallery, set to open its doors to the public later this month, has ambitious goals of educating artists and art enthusiasts about nonfungible tokens (NFTs) and the broader Web3 ecosystem. Following its official launch, the gallery will host workshops aimed at shedding light on these innovative technologies.

Cointelegraph had the opportunity to interview Danilo Carlucci, the founder of Morningstar Ventures, an investment firm, and 37xDubai, located in the Dubai International Financial Centre (DIFC). Carlucci delved into the gallery's objectives and the rationale behind its venture into NFTs and Web3, despite the current market conditions.

Carlucci described the gallery as an endeavor to unite art and technology under one roof. Morningstar Ventures, primarily a traditional venture capital fund, views the art gallery as a means to diversify into the realm of creative digital art and NFTs. He explained, "We have various different types of digital arts, but we also have NFTs displayed. We don't just sell these specifically handpicked NFTs, but we also educate the people who are visiting our gallery about what NFTs are."

In addition to showcasing NFTs within the gallery, the founder of 37xDubai emphasized that the gallery employs NFTs inspired by its Tree of Life art installation as membership tokens.

The project will also actively support events and workshops centered around the adoption of Web3 technology, with guidance from advisors affiliated with Binance NFT and Binance Charity.

When asked about the decision to embrace NFTs, particularly in light of market trends indicating a decline in NFT prices, Carlucci expressed his belief in the technology and elaborated on the unique nature of the NFTs featured in the gallery. He stressed that while the gallery is not exclusively dedicated to NFTs, it wholeheartedly believes in their potential. Furthermore, he highlighted that the NFTs featured in the gallery serve a distinct purpose compared to those created by tech companies.

"For the artists that we work with and we handpick, the incentive is creative. They want to make something creative, and they just happen to use blockchain technology for authentication purposes and for maybe sometimes the creative purpose, but the incentive is always creative," Carlucci explained.