1kx leads $5 million seed round for generative art NFT platform fxhash

The generative art NFT platform, fxhash, has successfully raised $5 million in a seed funding round, with 1kx, an early-stage web3 investment firm, leading the investment. The funding will play a pivotal role in fxhash's expansion plans, including team growth and a significant platform upgrade within the next six months.

The seed funding round was not only supported by 1kx but also saw participation from Fabric Ventures, Bright Opportunities DAO, Union Square Ventures, the Tezos Foundation, Tane Labs, Daedalus, Everyrealm, PunkDAO, KRPDM, Casey Reas, Thefunnguys, Lemonde2d, and Gus Lee.

Until now, fxhash had been entirely self-funded and bootstrapped, relying on revenue generated from its artist and collector-friendly platform fees to develop and scale its platform. This funding injection will allow the platform to take its growth to the next level.

One of the major goals for fxhash is to launch a significant upgrade to their platform in the coming six months. This upgrade will involve integrating Ethereum minting, enhancing the platform's capabilities and user experience.

fxhash operates as a Tezos-based platform, offering artists the opportunity to create generative art using computer code and then sell these creations as NFTs (Non-Fungible Tokens). This funding not only indicates investor confidence in fxhash's potential but also underscores the growing interest in the generative art and NFT space as a whole.

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