NFT Startup Pixel Vault Raises $100 Million To Build A Decentralized Entertainment Giant

The NFT development startup Pixel Vault has closed a massive $100 million funding round.

Pixel Vault, best known for its NFT projects Punks Comic and Metahero Universe, signed with WME in October to bring these ventures into traditional mediums like film and TV. Techrunch reports that the funding round was led by Velvet Sea Ventures and Dick Costolo and Adam Bain‘s 01 Advisors.

Pixel Vault’s first NFT launch was Punks Comic, a series of digital and physical comic books featuring characters from CryptoPunks – another NFT project. Metahero Universe, its second launch, was inspired by the 16 main characters in the Punks Comic. Techcrunch reports that the Pixel Vault team has now tapped veteran comic book artists to create a collection of superhero NFTs with which the team is hoping to realize a broader entertainment universe, Techcrunch reports, in the vein of Marvel

A total of 146 core superhero character NFTs will be owned by the community, while thousands of generative characters will be widely re-used in ensuing content. A core character NFT is currently selling for roughly a minimum of $300,000, per Techcrunch, while generative characters are currently priced as low as $18,000.

“Adding these experienced firms to our cap table will accelerate our growth as we continue to build the world’s first decentralized entertainment company,” Pixel Vault said shared Twitter.

As part of the fundraise, the company added, Velvet Sea’s Michael Lazerow will join Pixel Vault’s board of directors, while 01 Advisors’ Bain will join as board observer and advisor.