Operator-led enterprise capital corporations Velvet Sea Ventures and 01 Advisors invested $100 million into Pixel Vault, a big nonfungible token assortment of superheroes, to collectively launch the rebranded multi-franchise nonfungible token (NFT) leisure firm, Pixel Vault Inc.
In keeping with Pixel Vault, the purpose of the brand new enterprise is to leverage NFTs and mental property to inform the tales of crypto-native communitiesacross quite a lot of mediums, together with tv, motion pictures and video video games.Pixel Vault owns 100% of the IP, belongings and operations of PUNKS Comedian, MetaHero and all future franchises.
Pixel Vault’s founder and CEO Sean Gearin, also called GFunk, launched the corporate in Might 2021. In an announcement, he said that on the heart of all Pixel Vault tasks is neighborhood empowerment, decentralized governance and true digital possession, believing that the “followers are the proprietor and the builder.”
The backers of Pixel Vault are additionally token-carrying neighborhood members. 01 Advisors, or 01A, isled by former Twitter CEO Dick Costolo and former Twitter chief working officer Adam Bain. 01A and Velvet Sea Ventures co-led a $25M Collection A funding in Tom Brady’s NFT market Autograph final summer time.
Michael Lazerow, co-founder and managing companion at Velvet Sea Ventures, published a LinkedIn put up chronicling the Pixel Vault origin story and explaining the long-term imaginative and prescient for the brand new firm.
“The story of Pixel Vault and the story of digital possession are intertwined and will likely be written over the following few years. The most effective factor about Web3 tales are that they will now contain you. If in case you have been part of the Pixel Vault neighborhood, it has been an epic prologue.”
As a part of the fundraise, Lazerow will be part of Pixel Vault’s board of administrators alongside GFunk and common counsel Jacob Wittman, whereas 01A’s Adam Bainwill be part of the corporate as a board observer and adviser.The one Pixel Vault shareholders are GFunk, his staff and the brand new buyers.
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Pixel Vault was one of many leaders in a collaborative mission between PUNKS Comedian, Bored Ape Yacht Membership, GMoney and Adidas Originalsthat launched in December 2021.
