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Thanks to the funding acquired, the startup is prepared to officially roll out and scale the Holograph technology for the benefit of all.
Blockchain startup, CXIP Labs has raised the sum of $6.5 million in new funding round at an undisclosed valuation. As contained in a press release shared with Coinspeaker, the funding was led by Courtside Ventures and Wave Financial, and also enjoined participation from Vaynerfund, Diplo, Gmoney, Nadya from Pussy Riot, Justin Aversano, Arca NFT Fund, Infinity Ventures Crypto, Kenetic Capital, Mirana Ventures, Company Ventures, Avalaunch, Soma Capital, Kosmos VC, Palm Drive Capital, as well as a number of strategic angel investors.
The CXIP Labs funding is a testament to the continuous attraction that Web3.0 startups are showcasing that has continued to appeal to investors across the board. CXIP Labs occupies a very pivotal position in today’s Non-Fungible Token (NFT) ecosystem through its innovative product offerings.
The startup is behind the omnichain NFT interoperability protocol, and through its ‘holographic bridging’ technology which is patented, the startup creates an avenue by which NFTs can move from one EVM compatible chain to the other. Through this NFT transport technology, data integrity is guaranteed. Besides Bridge, CXIP Labs also introduce ‘Core’, an omnichain NFT minting and bridging API for developers; and ‘Mint’, a no-code NFT minting interface for creators.
Thanks to the funding acquired, the startup is prepared to officially roll out and scale the Holograph technology for the benefit of all. The outfit was founded by intellectual property lawyer Jeff Gluck, Jeremy Kerbel, and artist Daniel Arsham, the trio who are very interested in the growth and development of the NFT and Web3.0 ecosystem.
“With Holograph, our mission is to empower brands and creators across any marketplace or blockchain by building solutions that make digital asset creation and trading easier and more accessible,” said Jeff Gluck, CXIP Labs’ CEO.
CXIP Labs and the Investors Trust
Bootstrapping CXIP Labs has been tagged by some of the startup’s investors as hinged on its core solutions that are essential to the mainstream adoption and value rendering of the NFT ecosystem.
“The CXIP Labs team has a proven background in supporting artist’s rights across creative industries, web3 fundamentals, and a vision of the future for creators informed by some of the smartest people in web3,” says Gary Vaynerchuk, VaynerFund.
Some of the solutions the startup provides have been put to great use as it has powered some NFT projects from the likes of Sotheby’s, Phillips, Nifty Gateway, the AmFAR Gala, and the Academy Awards Museum amongst others. Besides the solution that the outfit brings to the table, the investors also expressed confidence in the abilities of the brain behind the project as a whole.
“We are big believers in Jeff and the team. CXIP Labs is addressing a real problem in the NFT market with their novel PA1D smart contract technology for NFT royalties. We are excited to continue to back them and co-lead the current round,” said David Roebuck, Principal of Wave Financial.