Generative arts platform fxhash raised $5 million in seed funding in a round led by web3 startup investment firm 1kx.
Other participants included Fabric Ventures, Bright Opportunities DAO, Union Square Ventures, the Tezos Foundation, Tane Labs, Daedalus, Everyrealm, PunkDAO, KRPDM, Casey Reas, Thefunnguys, Lemonde2d and Gus Lee.
“To date, fxhash has been fully self-funded/bootstrapped,” fxhash COO Paul Schmidt told The Block. “We’ve scaled the platform solely through revenue from our artist- and collector-friendly, industry-low platform cost so far.”
The company plans to use the funding to grow its team and launch a major platform upgrade that integrates Ethereum mining in the next six months.
Tezos based platform
“We believe that art is just the beginning for generative media and we will see unique 1 to 1 generative designs growing across all creative industries,” pet3rpan, a partner at 1kx, said in a statement. “fxhash is a true community and home to some of the most talented generative creators, and we’re incredibly excited to support the team here as they continue their journey to bring generative art and media to the rest of the world.”
fxhash is a Tezos-based platform that allows artists to create generative art or creative work produced using computer code and sell them as NFTs.