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Pixel Vault Receives $100M Investment After Generating 100k in Ethereum

By:
Aaryamann Shrivastava
Updated: Feb 3, 2022, 12:59 GMT+00:00

The NFT development platform which aims at building a robust ecosystem for collectors will be initially launching on the Coinbase NFT Marketplace.

Pixel Vault Receives $100M Investment After Generating 100k in Ethereum

2021 witnessed the emergence of NFTs and 2022 is witnessing an exploding rise and many more and more companies and platforms pouring money into this industry to capitalize on the success. The newest addition to the mix is the Pixel Vault investors.

The Investment Is From…

In an announcement yesterday, Pixel Vault, Inc. secured a $100 million investment which came from Velvet Sea Ventures and 01A.

Using this money Pixel Vault plans on developing the first-ever multi-franchise NFT development platform which enables creators, artists as well as collectors to participate in the ownership of their content. 

Although Pixel Vault came into existence less than 9 months ago it has already managed to generate about 100k in Ethereum which translates to about $267 million in just primary and secondary transactions.

CEO and co-founder of Pixel Vault, Sean Gearin said:

“Pixel Vault projects are built with the key tenets of Web3 at the center – community empowerment, decentralized governance, and true digital ownership… We do not look at the fan as the customer – our fans are the owner and the builder.”

Furthermore, Michael Lazerow, a Velvet Sea partner, who joined Pixel Vault’s board of directors as part of the investment stated that he was fascinated with Gearin’s unique view that NFTs are the medium, not the product. He added:

“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.”

Pixel Vault has been growing at a rapid pace being the second biggest NFT project developer after the creators of Bored Ape Yacht Club and Cryptopunks.

Just last year in a collaboration of PUNKS Comic, Bored Ape Yacht Club, GMoney, and Adidas, 30k NFTs were sold off within an hour for the total value of $24 million.

Is It the Right Decision?

It actually couldn’t be more right since the NFTs market is touching skies at the moment. According to the OpenSea monthly volume, the marketplace last month managed to mint $4.95 billion just from selling $2.4 million NFTs. 

OpenSea NFT volume almost touched $5 billion | Source: Dune

On top of that in less than 3 days since February began, the total sales have already crossed $485 million. Plus with Solana NFTs soon joining the marketplace, these numbers are going to grow immensely.

About the Author

Holding a Mass Media Degree has enabled me to better understand the nitty-gritty of being a journalist and writing about cryptocurrencies’ news and price movements, effects of market developments, and the butterfly effect of individual assets nurtured me into a better investor as well.

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