Pixel Vault was one of the driving forces behind a December 2021 NFT collaboration with PUNKS Comic, Bored Ape Yacht Club, GMoney, and Adidas Originals.
Velvet Sea Ventures and 01 Advisors, two operator-led venture capital firms, put $100 million into Pixel Vault, a massive nonfungible token library of superheroes, to form Pixel Vault Inc., a rebranded multi-franchise NFT entertainment company.
Pixel Vault’s new enterprise aims to use NFTs and intellectual property to communicate the stories of crypto-native communities in a range of mediums, including television, film, and video games, according to Pixel Vault. PUNKS Comic, MetaHero, and all future franchises are all owned by Pixel Vault, which controls 100% of the IP, assets, and operations.
What you should know about Pixel Vault
Sean Gearin, popularly known as GFunk, founded Pixel Vault in May 2021 and is the company’s founder and CEO. He noted in a statement that community participation, decentralized governance, and true digital ownership are at the heart of all Pixel Vault projects, believing that “fans are the owner and the builder.”
Pixel Vault’s backers are also community members who have tokens. Former Twitter CEO Dick Costolo and former Twitter COO Adam Bain lead the advisory firm 01 Advisors or 01A. Last summer, Autograph, Tom Brady’s NFT marketplace, received a $25 million Series A investment from 01A and Velvet Sea Ventures.
Michael Lazerow, co-founder and managing partner at Velvet Sea Ventures, wrote a LinkedIn post about the Pixel Vault origin story and the company’s long-term vision.
“The story of Pixel Vault and the story of digital ownership are intertwined and will be written over the next few years. The best thing about Web3 stories are that they can now involve you. If you have been a part of the Pixel Vault community, it has been an epic prologue.”
Lazerow will join Pixel Vault’s board of directors with GFunk and General Counsel Jacob Wittman as part of the funding, while 01A’s Adam Bain will serve as a board observer and adviser. GFunk, his staff, and the new investors are the only Pixel Vault stockholders.
Pixel Vault was one of the driving forces behind a December 2021 collaboration with PUNKS Comic, Bored Ape Yacht Club, GMoney, and Adidas Originals.
