Web3 Ventures Inc. (“W3V” or the “Company”), a platform company focused on incubating, accelerating, and developing world class projects and applications for the decentralized web, is pleased to announce that it has acquired 150 NFTs from the PunkScape collection, a digital identity and immersive land project. This investment represents a 1.50% stake in the fixed supply of all existing and outstanding PunkScape non-fungible tokens.
Launched in September 2021, PunkScape has a passionate community base of 3,000+ token holders, including notable members such as Tobi Lütke, CEO of Shopify ($SHOP) and Jack Butcher, founder of leading media platform Visualize Value. Since launch, the PunkScape collection has over 1,600 Ethereum in secondary sales volume. Focused on providing interactive digital real estate and immersive experience applications, PunkScapes are designed to integrate with social profile banner sections such as Twitter, Discord, LinkedIn, OpenSea, the Ethereum Name Service, and more.
In addition to potential market price appreciation of the PunkScape NFTs that Web3 Ventures has acquired, W3V will earn royalty revenue from their PunkScape NFTs through Gallery27, an internally-developed daily auction platform that utilizes AI technology to mint generative art derivatives of PunkScape NFTs. W3V and other collection holders earn a 50% royalty on the winning bids. Since its launch on February 2, 2022, over 100 Ethereum in auction bids have been placed through Gallery27.
