Alchemy Ventures Backs $4M Round for NFT Platform Vibe
:format(jpg)/www.coindesk.com/resizer/hUv1U9cMP77z__1hmpusCl6kqtA=/arc-photo-coindesk/arc2-prod/public/5WF4AJAWOJA7FDQBEIWAKGTGYA.jpg)
Brandy covers crypto-related venture capital deals for CoinDesk.
Vibe, a new non-fungible token (NFT)-to-product platform that provides tools to help creatives customize and manage the tokens, has raised a $4 million seed round.
Investors in the round included the venture capital arm of Web3 infrastructure giant Alchemy, Aglaé Ventures, and K-Pop artist Psy’s music label P Nation, among others.
San Francisco-based Vibe aims to increase the value of NFTs beyond their scarcity and implement or increase the utility of the token. The no-code platform lets creatives turn the NFTs into applications and products that can allow the tokens to evolve and provide real-world and digital utility.
Embeddable features include loyalty points, ticketing and the opportunity for physical redemptions. Vibe NFTs can be deployed on any chain and bridged to any other chain.
“Real value for NFTs will come from the dynamism and programmability where creators can add unique features to their collections. Until now, they haven’t had a comprehensive tool to curate and customize their collections,” said Vibe founder and CEO Rachel Chu in a statement. “Our goal is to simplify the entire process, and we are confident in our mission of taking NFTs from pictures to products.”
Edited by Parikshit Mishra.
DISCLOSURE
Please note that our
privacy policy,
terms of use,
cookies,
and
do not sell my personal information
has been updated
.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
strict set of editorial policies.
CoinDesk is an independent operating subsidiary of
Digital Currency Group,
which invests in
cryptocurrencies
and blockchain
startups.
As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of
stock appreciation rights,
which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG
.
Brandy covers crypto-related venture capital deals for CoinDesk.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
Brandy covers crypto-related venture capital deals for CoinDesk.
