The Seed Round
Fxhash, the groundbreaking generative art platform and marketplace, has successfully closed an oversubscribed $5 million seed fundraising round. Spearheading this investment initiative was 1kx, an early-stage crypto-focused venture capital firm renowned for its strategic ecosystem growth investments.
Founded in 2021, Fxhash has emerged as the premier open and freely accessible platform for generative art. The core mission of the startup revolves around enabling users to harness the power of coding to create unique artistic expressions. Furthermore, Fxhash is committed to providing creators with a vibrant platform where they can monetize their code-based artworks.
Key Investors and Their Roles
The seed round saw a diverse group of participants, ranging from venture firms to notable angel investors. Joining 1kx were Fabric Ventures, Bright Opportunities DAO, Union Square Ventures, Tezos Foundation, Tane Labs, Daedalus, Everyrealm, PunkDAO, and KRPDM. Additionally, the angel investor list boasted names like generative artist Casey Reas, Thefunnguys, Lemonde2d, and Gus Lee.
In a series of tweets, the company expressed gratitude towards its investors, emphasizing that many of them started as Fxhash art collectors, thereby highlighting the community’s intrinsic role in shaping the platform.
“Generative art is the art movement of our era. This funding and validation from our investors allow us to truly build out the vision that has united the team since our earliest days. We can now think bigger, long-term, with additional resources to empower artists and collectors through peerless tools for creating and distributing generative art”
Baptiste Crespy – Founder of Fxhash
Looking Forward: Expansion and Growth
The fresh capital infusion will primarily be channeled towards expanding Fxhash’s offerings to Ethereum, transforming it into a multi-chain generative art platform. This will provide artists with the flexibility to mint their artworks on either Tezos or Ethereum.
To expedite its expansion and enhance the platform’s features, Fxhash has already onboarded new team members, including a product manager, event lead, and UI/UX design experts.
The Fxhash 2.0 Evolution
Earlier in June, Fxhash teased its community about the imminent launch of its multi-chain feature, dubbed “Fxhash 2.0”. This innovative tool promises users the autonomy to choose between Tezos and Ethereum, providing a seamless minting experience across both chains.
Fxhash has consistently prioritized its community’s needs, as evidenced by its decision to integrate Ethereum based on user feedback. The company views itself as a bridge, seamlessly connecting diverse chains and fostering a holistic environment for generative art enthusiasts.
The Road Ahead
With its forthcoming Fxhash 2.0 launch set for Fall/Winter 2023 and strong financial backing, the future looks bright for this generative art trailblazer born on Tezos.
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