HUG, a social art community platform that Randi Zuckerberg and Debbie Soon co-founded, has been acquired by the registry behind the .ART domain. Financial terms of the deal were not disclosed. Soon and HUG’s lead engineer will remain with the company post-acquisition, but Zuckerberg will depart, though she tells me she’s still a “passionate member and fan of the community!”
.ART and HUG have a pre-existing relationship. The two organizations formed a strategic partnership this summer to boost artists’ digital presence on its platform. As a result, HUG members were eligible to receive a standard .ART domain for free (for one year) or 50 percent off a premium domain. Both companies worked together to promote each other’s services.
With the acquisition, .ART is introducing exclusive perks, including a one-year premium subscription to ID.art—a platform designed to help artists manage their portfolios, authenticate their work, and monetize their creations. In addition, HUG artists can receive a free .ART domain name.
On the surface, the pickup of HUG appears complementary for .ART. After all, it makes sense for a domain registry about the art and creative space to buy a platform filled with inclusive artists. “We have always admired the incredible work HUG has done in empowering artists and providing them with a supportive community,” .ART founder and Chief Executive Ulvi Kasimov writes in a statement. “This acquisition allows us to bring even more value to HUG’s creators by combining our digital identity tools, blockchain authentication, and global reach with their vibrant artist community.”
“I’ve always described myself as having an entrepreneurial brain and an artist’s heart, Zuckerberg once told me on “The Created Economy” podcast, though she never felt like she belonged in either space in a “perfect cookie-cutter way.” She was too artsy for tech and too techie and business-minded for the art community. But the entry of Web3 created what she said was a “perfect blend of tech and the arts coming together with arts driving technological innovation.”
HUG operates as an incubator and accelerator, providing education, community, and resources to Non-Fungible Tokens (NFTs) and Web3 founders. Zuckerberg and Soon wanted it to be a “friendlier second stop” for those looking to enter the space after doing their initial research. The founders wanted a name that conveyed a welcoming and supportive atmosphere, in contrast to the intimidating nature of the crypto/Web3 space.
While HUG has amassed a community of 35,000 users, it’s hard to overlook that NFT popularity has decreased over the years. Meta has wound down its support for the technology, crypto exchange Kraken shuttered its NFT marketplace in November, and NFT values have failed to follow the trend of cryptocurrency prices.
.ART’s acquisition of HUG will close at the end of this month. HUG explains in an FAQ that all accounts will remain active “during and after” the transition and all profiles, account settings, and uploaded assets will be saved except those in Shop, which will be “on hiatus from December 23.” The companies also hinted at additional features coming to HUG in 2025, saying they’re “confident that this will further support an artist’s creative journey in both the traditional and crypto art world.”
Both .ART and HUG will co-host a press conference on December 16 at 7 a.m. PT, which will introduce the new owners, reveal details about upcoming features, and answer community questions.
Featured Image: An example of a banner on HUG. Image credit: HUG
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