Operator-led venture firms Velvet Sea Ventures and 01A partner with PUNKS Comic and MetaHero Universe Developer to create the first multi-franchise NFT development platform

Pixel Vault, Inc. today announced a $100 million investment by Velvet Sea Ventures and 01A to launch the first multi-franchise NFT development platform that allows artists, creators and collectors to participate in ownership of digital happy. The new venture will support the growth of cryptocurrency-native communities across a wide variety of mediums: NFTs, TV and movies, video games, and more.

Since its launch in May 2021, Pixel Vault NFTs have generated close to 100,000 ETH in primary and secondary transactions, making it one of the most popular NFT collectible projects ever, behind only Yuga Labs, developer of the Bored Ape Yacht Club, and Larva franchises. Labs, creator of the Cryptopunks. The newly launched firm is home to the popular Pixel Vault PUNKS Comic and MetaHero NFT franchises, giving collectors the opportunity to buy, sell and trade characters and vote on major developments in the universe.

“Pixel Vault projects are built with the key principles of Web3 at the core: community empowerment, decentralized governance, and true digital ownership,” said Pixel Vault, Inc. founder and CEO GFunk, aka Sean Gearin. “We don’t view the fan as the customer – our fans are the owner and the builder.”

“I purchased 10 PUNKS Comics during the initial public sale and was fascinated by Sean’s unique insight at the time that NFTs are the medium, not the product,” said Michael Lazerow, a partner at Velvet Sea, who has joined the board of directors. from Pixel Vault as part of the transaction. ”Intellectual property is the product. And Pixel Vault is building it in close collaboration with its committed community of avid collectors, of which I am a proud token-carrying member.”

2021 will go down as the breakout year for NFTs as total sales surpassed $25 billion, according to DappRadar. Pixel Vault was at the forefront of growth with several important milestones:

• 104,000 unique Pixel Vault NFTs generated close to 100,000 ETH in total transactions
• Pixel Vault launched the first serialized media property of its kind, PUNKS Comic, and successfully sold out all editions.
• Pixel Vault’s second project, MintPass, sold 10,000 NFT MintPass, each redeemable for a MetaHero hero or villain
• The Pixel Vault launched the MetaHero Universe, a metaverse ruled by the thousands of fans who purchased membership tokens
• The Pixel Vault spearheaded an innovative partnership between PUNKS Comic, Bored Ape Yacht Club, GMoney and Adidas. 30,000 NFTs, valued at $24 million, sold out in less than an hour
• Pixel Vault signed agency deal with WME to develop Hollywood and brand partnerships

Pixel Vault has agreed to be an initial launch partner in the Coinbase NFT marketplace. “Sean’s progress last year was impressive,” says Adam Bain, a managing partner at 01A who has agreed to serve as a board advisor and observer. “No other team in the NFT space is performing better with long-term value creation for collectors in mind. I am honored to help Pixel Vault in this next phase of its growth.”

GFunk adds: “I could have worked with many different companies. I specifically selected Velvet Sea and 01A for two simple reasons. First, they believed in this project from day one and have been active and engaged members of the community from the beginning. And secondly, 01A and Velvet Sea have experience in financing and building widely recognized global Internet brands. I couldn’t have found more suitable partners.”

The Pixel Vault is the second recent collaboration between 01A and Velvet Sea. The companies co-led a $25 million Series A investment in the NFT Autograph marketplace, which announced earlier this month the closing of a Series B financing for a $170 million total co-directed by a16z and Kleiner Perkins.

About Pixel Vault

Pixel Vault, Inc. is a web3-centric media company that focuses on developing narratives and stories that elevate crypto-native assets through a variety of media. Through unique on-chain mechanics, decentralization, and game theory, Pixel Vault aims to engage collectors with their NFTs and build a strong ecosystem for collections. The Pixel Vault team has expanded the history and lore of some of the most beloved on-chain static assets through PUNKS Comics, an NFT comic looking to bring to life NFT Cryptopunks and other on-chain assets. Additionally, Pixel Vault is the creator of MetaHero Identities, a blockchain-based collection of villains and heroes, and MetaHero Universe, a gaming and social platform governed by token holders on the planet.

About Velvet Sea Ventures

Velvet Sea Ventures is a trader-led venture capital firm that goes beyond capital to help entrepreneurs turn their visions into reality. Built by a family of entrepreneurs, VSV combines early growth stage capital investment with uncompromising, hands-on strategic support and guidance. Velvet Sea Ventures’ current portfolio companies include Scopely, eToro, Liquid Death, LeoLabs, Autograph, Strigo, SuperRare, Elementus, and Pixel Vault. You can find a full list of portfolio companies here.

About 01 Advisors

01A is a venture capital firm focused on helping companies grow after they have obtained product-to-market fit. Founded in 2018 by former scale traders Dick Costolo (former Twitter CEO) and Adam Bain (former Twitter COO), the company takes a unique approach to consulting and counseling for CEOs by making multi-stage investments in Consumer, Fintech, Gaming, Web3, and B2B companies