NFT Platform Pixel Vault Raises $100 Million Funding as It Aims to Build a Decentralised Media Empire

Pixel Vault has just secured a $100 million funding with ambitions to launch the first multi-franchise NFT development platform.
Image source: Adidas

Quick take:

  • The platform will allow creators and collectors to participate in the ownership of digital content.
  • The company will support the growth of crypto-native communities across NFTs, television and movies, video games and more.
  • Pixel Vault hopes to turn its superhero NFTs into a broader media ecosystem.

Pixel Vault – the NFT project behind PUNKS Comic and MetaHero – has just secured a $100 million investment by Velvet Sea Ventures and 01A. With the funding, the company plans to expand its superhero NFTs to create the first multi-franchise decentralised media empire. 

Moving forward, the company will support the growth of crypto-native communities across different mediums ranging from NFTs to television and movies, video games and more. 

So far, Pixel Vault has generated close to 100,000 ETH in transaction volume, making it one of the most popular NFT collectible projects, running just behind Yuga Labs, developer of the Bored Ape Yacht Club franchises, and CryptoPunks creator Larva Labs.

In its infancy, Pixel Vault was initially bankrolled by Web 3 investor, “beaniemaxi”. However, he has divested from the project following allegations of him being a serial scammer. 

As the project moves onto its next stage as a full-fledged NFT and media enterprise, Pixel Vault wants to give collectors the opportunity to buy, sell and trade characters and vote on major developments of the PUNKS Comic and MetaHero universe.

“Pixel Vault projects are built with the key tenets of Web3 at the center – community empowerment, decentralized governance, and true digital ownership,” said Pixel Vault, Inc. founder and CEO GFunk, a/k/a Sean Gearin. “We do not look at the fan as the customer – our fans are the owner and the builder.”

As part of its efforts to turn its superhero NFTs into a media entertainment company, Pixel Vault has already signed an agency deal with WME to develop Hollywood and brand partnerships.

Since its launch in May last year, Pixel Vault has made a name for itself with PUNKS Comic,  its flagship NFT comic books featuring characters based on CryptoPunks, which are all sold out. For issue two, PUNKS Comic has partnered with Bored Ape to co-release Collector’s Editions, claiming that it’s “a first for IP licensing in the NFT space.”

The Pixel Vault team worked with the owner of each Ape to create eight alternate-cover PUNKS Comic Issue #2 collections. Holders of these editions will be able to claim the physical copy at a later date. 

Recently, Pixel Vault spearheaded a ground-breaking partnership between PUNKS Comic, Bored Ape Yacht Club, GMoney and Adidas for the sportswear brand’s ‘Into The Metaverse’ NFT collection. All 30,000 NFTs sold out in less than an hour, generating more than $23 million in revenue.

The company has also agreed to be an initial launch partner on the upcoming Coinbase NFT marketplace.

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