NFT-comic publisher Pixel Vault raises $100 million

A decentralized NFT-focused media group, Pixel Vault, has raised $100 million in funding from venture-capital firms 01 Advisors and Velvet Sea Ventures.

Pixel Vault, Inc. is excited to announce the closing of our fundraise led by Velvet Sea Ventures & 01 Advisors. https://t.co/eQCVDe0Z9A

— Pixel Vault (@pixelvault_) February 2, 2022

The company will allocate the funds to develop an NFT platform built around several franchises, enabling individuals to own digital content in film, television, comics, video games and other media.

The startup is the creator of the PUNKS Comics project, in which NFT holders gain access to webcomics. The first issue told the life of the fictional crypto-influencer Beanie, while the second featured characters from the Bored Ape Yacht Club collection.

“Our projects are built with Web 3.0’s key principles in mind — empowering the community, decentralized governance, and real digital ownership. We do not regard fans as customers. They are owners and creators”, said Shawn Gearin, CEO of Pixel Vault.

Following the round, Velvet Sea Ventures co-founder Michael Laserow will join the company’s board of directors. Co-founder of 01 Advisors Adam Bain will join him as an adviser and observer.

In January, NFT trading volume reached a record $6.86 billion.