Beanie gave life to Sean’s project.
8 Months of Explosive Growth
The initial agreement around the formation of Pixel Vault put Sean in charge of the project. It was his idea, and he had brought the parties together to make it happen. Sean held weekly public town halls on Twitter Spaces, engaged the community on Discord, and has always been the project’s operational lead.
As the financial backing, Beanie took control of the funds and how they flowed. While they knew each other from online communities, they were “still very much strangers on the internet.”
PUNKS Comic Issue #1 launched on May 10 and sold out five weeks later.
I am a proud token-carrying member.”
2021 will be remembered as the breakthrough year for NFTs as total sales topped $25 billion, according to DappRadar. Pixel Vault was at the forefront of the growth with several important milestones:
- 104,000 unique Pixel Vault NFTs generated close to 100,000 ETH in total transactions
- Pixel Vault launched a first-of-its-kind serialized media property, PUNKS Comic, and successfully sold out all editions
- Pixel Vault’s second project, MintPass, sold 10,000 MintPass NFTs, each one redeemable for a MetaHero hero or villain
- Pixel Vault launched the MetaHero Universe, a metaverse governed by the thousands of fans who purchased membership tokens
- Pixel Vault spearheaded a ground-breaking partnership between PUNKS Comic, Bored Ape Yacht Club, GMoney and Adidas.
They give life meaning and purpose. Without them, context and perspective crumble, and imagination and hope are extinguished.
Some stories seem so authentic, so true, that we question nothing. Others we immediately discard as improbable, too unthinkable to be true.
But the stories that survive the friction required to pass them down to future generations are both believable and unbelievable.
They have nothing to do with us and everything to do with us.
We unpack them in search of truth. And whether we find that truth or not, they force us to rethink our own.
The story I am about to tell you is one of these stories.
You might think you already know how my story about Pixel Vault Inc. ends.
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And second, 01A and Velvet Sea have experience funding and building widely recognized global internet brands. I could not have found more fitting partners.”
Pixel Vault is the second recent collaboration between 01A and Velvet Sea.
The firms co-led a $25M Series A investment in NFT marketplace Autograph, which announced earlier this month the closing of a Series B funding totaling $170M co-led by a16z and Kleiner Perkins.
About Pixel Vault Pixel Vault, Inc. is a web3-centric media company focused on the development of narratives and stories that elevate crypto-native assets across a variety of mediums. Through unique on-chain mechanics, decentralization and game theory, Pixel Vault aims to engage collectors with their NFTs and build a robust ecosystem for collections.
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Would he continue as a businessman and lawyer serving the needs of others? Or would he choose to gamble his future on the entrepreneurial game of risk and reward?
Well, let’s say that I would not be writing about Sean if he had remained chained to a desk.
The Pixel Vault Origin Story
GFunk’s vision was to develop crypto-native IP assets and then expose them to a broad community of fans across a wide variety of media – NFTs and digital ownership, television and movies, video games, and more.
He imagined a project that combined epic storytelling with the key tenets of Web3 at the center – community empowerment, decentralized governance, and true digital ownership.
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The NFT startup tells TechCrunch it has closed a whopping $100 million in funding from Adam Bain and Dick Costolo’s 01 Advisors and Velvet Sea Ventures.
Tom Brady’s buzzy celebrity NFT startup Autograph banks $170M from Silicon Valley’s top crypto investors
Pixel Vault has been at the forefront of experimentation in how NFT projects become something bigger than thousands of JPGs.
“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 CEO Sean Gearin (better known in crypto circles as GFunk) in a statement. “We do not look at the fan as the customer.
He imagined a media company larger than Disney, with franchises more engaging than Marvel and Star Wars.
Sean envisioned a company powered by fans that would empower them back by letting them capture profits from the appreciation of assets they own. An entity with fully aligned financial incentives. Customers, creators, and the company itself would all be in it together in stark contrast to the massive platforms, and value extraction, of Web 2.0.
The vision was big.
Unfortunately, GFunk’s bank account was small (less than $20,000 to his name, GFunk recalls). So he did what all great entrepreneurs do: He reached out to several well-known investors.
GFunk knocked on the doors of the most well-known crypto and NFT influencers. None of them opened the door.
About Velvet Sea Ventures Velvet Sea Ventures is an operator-led venture capital firm that goes beyond capital to help entrepreneurs turn their visions into reality.
Built by a family of entrepreneurs, VSV couples seed-to-growth stage capital investment with unconditional hands-on strategic support and guidance.
And while Beanie rubbed many the wrong way, Beanie was at the time “a well-respected member of the crypto/NFT world, consulting with NFT developers and running the now-suspended GM Capital VC fund,” as recounted by Jake Silbert.
Beanie invested the much-needed cash to start the project and contributed 13 of the 16 original Cryptopunks that inspired the first comic. He also agreed to introduce his followers to the project.
In hindsight, it would be easy to conclude that Sean made a big mistake by partnering with Beanie. The truth is more complicated. I remember well what it was like raising money for my first company in the 1990s. The number of rejections I received filled a small stadium. The excitement of getting a yes is electric.
The Web3 supported storytelling feature will be accessible across a variety of platforms including television, movies, and video games thus attracting the attention of users easily. Pixel Vault is a renowned NFT portal that owns some of the most popular collections in the present market space.
Launched in 2021 by the present CEO, Sean Gearin also called GFunk, the group owns 100% right over the IP, assets, and operations of PUNKS Comic, MetaHero Universe, and all upcoming franchises.
The Pixel Vault spearhead stated that the core aim of Pixel Vault is to empower the community, support decentralized governance, and facilitate real digital ownership. The team runs by the motto that the fans are the owners and the creators of the industry.
The supporters of Pixel vault are also token-carrying community members.
The NFT collection and MetaHero Universe, another comic book series, have been highly successful.
The funding comes from Adam Bain and Dick Costolo’s 01 Advisors and Velvet Sea Ventures. With it, Pixel Vaults looks poised to become the first multi-franchise NFT development platform as they continue to build Intellectual Property around NFT assets—merging comics, NFTs, superheroes, Defi, DAO, gaming, and the metaverse into a broader media ecosystem.
Here’s what co-founder and CEO GFunk had to say about the project:
“Pixel Vault projects are built with the key tenets of Web3 at the center – community empowerment, decentralized governance, and true digital ownership.
The world of NFTs is bizarre, confounding and exhilarating. Detractors see a space full of capital-obsessed hucksters who want to choke all of the lasting value from popular culture, while boosters see a new technological revolution that can transform how value from online media is actually created and captured.
This past year, institutional investors have seemed to grow obsessed with NFT opportunities — a space few of them examined seriously before 2021 — dropping billions of dollars into equity investments in startups including Dapper Labs, OpenSea and Sky Mavis.
Investors’ latest NFT bet is on a startup called Pixel Vault — a massive NFT collection of superheroes that has the goal of growing into a decentralized Marvel-esque empire.