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HomeUpcoming NFTPixel Vault raises $100M for NFT development platform

Pixel Vault raises $100M for NFT development platform

Operator-led venture capital firms Velvet Sea Ventures and 01 Advisors have invested $ 100 million in Pixel Vault, a large collection of superhero non-fungible tokens, to be a rebranded multi-franchise non-fungible token (NFT) entertainment company. We co-founded a Pixel Vault Inc.

According to Pixel Vault, the purpose of the new venture is to leverage NFTs and intellectual property to tell the story of the crypto-native community across a variety of media such as television, movies and video games. Pixel Vault owns 100% of the IP, assets, and operations of PUNKS Comic, MetaHero, and all future franchises.

Sean Gearin, founder and CEO of Pixel Vault, also known as GFunk, launched the company in May 2021.In the statement he Said At the heart of every Pixel Vault project is community empowerment, decentralized governance, true digital ownership, and we believe that fans are owners and builders.

Pixel Vault backers are also community members who carry tokens. 01 Advisors (01A) is headed by former Twitter CEO Dick Costro and former Twitter Chief Operating Officer Adam Bain. 01A and Velvet Sea Ventures co-led a $ 25 million Series A investment in Tom Brady’s NFT marketplace Autograph last summer.

Michael Lazerow, co-founder and managing partner of Velvet Sea Ventures, Release A LinkedIn post that records the origin story of Pixel Vault and explains the new company’s long-term vision.

“The Pixel Vault story and the digital ownership story are intertwined and will be created in the coming years. The best thing about Web3 stories is that they can get you involved. Participating in the Pixel Vault community. If so, it was a spectacular prologue. “

As part of the funding, Lazerow will join Pixel Vault’s board of directors with G-funk and general counsel Jacob Wittman, and Adam Bain of 01A will join as an observer and advisor to the board of directors. Pixel Vault’s shareholders are only GFunk, his team, and new investors.

Related: Dune Analytics Raises Approximately $ 70 Million in Series B Financing Round

Pixel Vault was one of the leaders In a joint project Between PUNKS Comic, Bored Ape Yacht Club, GMoney, and Adidas Originals released in December 2021.