NFT development platform Pixel Vault has closed a $100 million funding round, the startup announced on Wednesday.
The company said that the investment by Velvet Sea Ventures and 01A would enable it to to launch a « multi-franchise NFT development platform, » enabling creators and collectors to own digital content.“Pixel Vault projects are built with the key tenets of Web3 at the center – community empowerment, decentralized governance, and true digital ownership,” Pixel Vault founder and CEO Sean Gearin said in the announcement.Pixel Vault launched last May with a drop that included real and digital comic book characters from the CryptoPunks project. The company has a large collection of superhero and villain NFTs that it hopes to develop into a decentralized, studio-scale entertainment enterprise. It is also the creator of the MetaHero Universe, a social and gaming platform.The funding will support the development of projects across television, movies and video games, the company said. Pixel Vault said it has generated almost 100,000 ether ($286 million based on ether’s current price) in primary and secondary transactions. ”Intellectual property is the product, » Velvet Sea partner Michael Lazerow, who will join the Pixel Vault board, said in the announcement. « 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.”O1A is the venture capital firm founded by former Twitter CEO Dick Costolo and former COO Adam Bain.