- Summary:
- CXIP Labs has raised $6.5 million in seed funding led by Wave Financial and Courtside Ventures. We tell you how it intends to use the funds.
CXIP Labs has announced the completion of a $6.5 million seed round funding. The company is known for their omnichain NFT interoperability protocol, which is the first of its kind. The round was co-led by Courtside Ventures and Wave Financial. Other participants included Vaynerfund, Diplo, Avalaunch, Gmoney, Palm Drive Capital, Nadya from Pussy Riot, Justin Aversano, Kosmos VC, Arca NFT Fund, Infinity Ventures Crypto, Kenetic Capital, Mirana Ventures, Company Ventures, Soma Capital and several angel investors.
“We’re thrilled to back the incredible team at CXIP Labs as they are building one of the most critical web3 technologies to empower and enable creators,” said Deepen Parikh, Partner at Courtside VC. Also, CXIP Labs recently held a new round of investment to support the development of a smart contract alongside Nadya Tolokonnikova of Pussy Riot and PleasrDAO. That resulted in a total of approximately $7 million for civilian organizations in Ukraine.
CXIP Labs will release Holograph, a new set of NFT solutions for developers, makers, and enterprises, following the funding round. Holograph has already helped create thousands of NFTs. Examples include those for Sotheby’s, Phillips, Nifty Gateway, the AmFAR Gala, and the Academy Awards Museum. Bridge Core and Mint are Holograph’s most prominent products. Bridge is CXIP’s unique ‘holographic bridging’ technology and it is the first cross-chain NFT bridge.
EVM blockchains can effortlessly transfer NFTs with total data integrity using this technology. On the other hand , Core is an omnichain NFT minting and bridge API for developers. Finally, for creators, Mint provides a no-code NFT minting interface.
Meanwhile, Pharrell Williams and artist Joe Jonas have joined the advisory board of CXIP Labs. The two new board members join Jen Stark, Lucien Smith, and Wendy Fisher, President of the Guggenheim Foundation.
About CXIP Labs
CXIP Labs, the brainchild of Jeff Gluck, aims to give web3 content creators a greater sense of ownership over their work. Holograph technology is central to the project’s growth. During the last decade, Gluck has been a leader in the field of art and fashion intellectual property law. He has assisted creative professionals such as artists, designers, and content producers to maintain a sustainable income.
About Courtside Venture
Courtside Ventures, is an early-stage venture capital fund, has with investments in more than 70 startups. Specifically, it focuses on investments in sports, collectibles, web3, gaming, and fitness industries worldwide.
About Wave Financial
Wave Financial is an early-stage venture capital firm, with focus on investing, asset management, treasury management, and strategic consultancy. The company’s objective is to serve as an intermediary between traditional asset management and cutting-edge technologies in digital assets and blockchains.