According to PANews, NFT community ARC, which boasts over 850 members, has successfully raised $4.5 million. This funding was contributed by 163 of its members, with the lead investor being venture capital firm Arcane Group. Other notable participants include Adrian Lai from The Newman Group, Arthur Cheong of Defiance Capital, Cecilia Lee, Germaine Jiang from Mask Network, and Chris Sirise of LiquidX Studio. ARC was founded in 2022 by Cheo and Singaporean business leader Kiat Lim. The newly acquired capital will be utilized to strengthen ARC's ecosystem, provide dedicated support for new Web3 projects, establish strategic partnerships to accelerate concept development and testing, and streamline the process from concept to market launch.