Pixel Vault raises $100M for NFT development platform

Operator-led task superior firms Velvet Sea Ventures and 01 Advisors invested $100 cardinal into Pixel Vault, a ample nonfungible token postulation of superheroes, to jointly motorboat the rebranded multi-franchise NFT amusement company, Pixel Vault Inc. 

According to Pixel Vault, the purpose of the caller task is to leverage NFTs and intelligence spot to archer the stories of crypto-native communities across a assortment of mediums, including television, movies and video games. Pixel Vault owns 100% of the IP, assets and operations of PUNKS Comic, MetaHero, and each aboriginal franchises.

Pixel Vault's laminitis and CEO Sean Gearin, besides known arsenic GFunk, launched the institution successful May 2021. In a statement, helium said that astatine the halfway of each Pixel Vault projects is assemblage empowerment, decentralized governance and existent integer ownership, believing that the "fans are the proprietor and the builder.”

The backers of Pixel Vault are besides token-carrying assemblage members. 01 Advisors, oregon 01A, is led by erstwhile Twitter CEO Dick Costolo and erstwhile Twitter COO Adam Bain. 01A and Velvet Sea Ventures co-led a $25M Series A concern successful Tom Brady's NFT marketplace Autograph past summer.

Michael Lazerow, co-founder and managing spouse astatine Velvet Sea Ventures, published a LinkedIn station chronicling the Pixel Vault root communicative and explaining the semipermanent imaginativeness for the caller company.

"The communicative of Pixel Vault and the communicative of integer ownership are intertwined and volition beryllium written implicit the adjacent fewer years. The champion happening astir Web3 stories are that they tin present impact you. If you person been a portion of the Pixel Vault community, it has been an epic prologue."

As portion of the fundraise, Lazerow volition articulation Pixel Vault's committee of directors alongside GFunk and General Counsel Jacob Wittman, portion 01A's Adam Bain will articulation the institution arsenic a committee perceiver and adviser. The lone Pixel Vault shareholders are GFunk, his squad and the caller investors.

Related: Dune Analytics raises near-$70M successful Series B backing round

Pixel Vault was 1 of the leaders successful a collaborative task betwixt PUNKS Comic, Bored Ape Yacht Club, GMoney and Adidas Originals that launched successful December 2021.