The Spanish Ministry of Culture grants Staxe the aid to digitise the culture and creative industries

The fintech developer focused on blockchain technology has received a grant from the Ministry of Culture and Sports to reactivate the cultural and creative industries strongly affected by the pandemic

Valencia — 01/29/2021 Staxe has been selected by the Spanish Ministry of Culture through its programme for ‘Modernization and Innovation of the Cultural and Creative Industries through digital and technological projects’.

The goal of these grants, among others, is to support R&D that favors the innovation and technological development of cultural and creative industries. Staxe has proposed blockchain solutions as the project’s core differentiator in both enhancing the participation of the private sector in the financing of cultural projects, as well as in fostering cultural patronage.

“An upgrade to the creatives’ digital infrastructure and value transactability is in stronger need than ever due to the alarming state of the industry, and blockchain technology offers very effective means for an augmented reactivation of the space”, affirms Luis Martínez, co-founder of Staxe. The music industry alone generates 82 billion euros a year in the EU with very little access to finance. “Staxe paves the way for qualified companies, brands and investors to co-invest and/or patronage in culture while aligning them with environmental and social causes supported by an artist or production.

The startup, founded in 2018 in Spain, holds more than 2 years of experience in R&D in decentralized and blockchain technologies applied to cultural and creative industries.