It is a good time to be a founder in the NFT space. Whether its FOMO or not, Institutional investors are on the hunt for everything NFT/Metaverse, and dropping millions of dollars to be inside the room.
The latest startup to secure big funds is Pixel Vault. The company has just closed a $100 million round of funding, led by Velvet Sea Ventures and 01A.
They intend to spend that money to launch a “multi-franchise NFT development platform,” enabling creators and collectors to own digital content.
Pixel Vault was launched in May 2021, and has reportedly generated close to 100,000 in ETH in primary and secondary transactions. This makes it “one of the most popular NFT collectible projects in history behind only Yuga Labs, developer of the Bored Ape Yacht Club franchises, and Larva Labs, creator of the Cryptopunks.”
“I bought 10 PUNKS Comics during the initial public sale and was fascinated by Sean’s unique view at the time that NFTs are the medium, not the product.
Intellectual property is the product. And Pixel Vault is building it in close partnership with its engaged community of avid collectors, of which I am a proud token-carrying member.”Michael Lazerow, Velvet Sea partner
In 2021, Pixel Vault sold 104,000 unique NFTs, generating close to 100,000 ETH. Their first collection was PUNKS Comic, followed by MintPass. Both sold out.
Pixel Vault then launched the MetaHero metaverse.