June 18, 2022 08:00 ET | Source: Web3 Ventures
Vancouver, British Columbia, CANADA
TORONTO, June 18, 2022 (GLOBE NEWSWIRE) — 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.
PunkScape is an NFT collection of 10,000 unique banner landscapes stored on the Ethereum Blockchain that are sold on OpenSea, LooksRare, and major NFT marketplaces. PunkScape is a metaverse space for digital-art that takes aim at the existing Web2 configurable “locations”–locations like banners on Twitter, LinkedIn, and so forth–and carries them into the Web3 space. Every Scape is digital land, a home for your digital assets and identity. https://punkscape.xyz/intro / https://opensea.io/collection/punkscapes
About Web3 Ventures
Web3 Ventures (W3V) is a platform company focused on identifying, incubating, accelerating, and developing world class projects and applications for the decentralized web. Focused on supporting early stage projects and entrepreneurs, W3V’s core investment pillars are identity, communication, and gaming, with a focus on early stage projects.
ON BEHALF OF THE BOARD OF DIRECTORS
Stan Fainzilberg, Chief Executive Officer
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This press release may include “forward-looking information” (as that term is defined by Canadian securities legislation), concerning the Company’s business. Forward-looking information is based on certain key expectations and assumptions made by the Company’s management, including future plans for the Company. Although the Company believes that such expectations and assumptions are reasonable, investors should not rely unduly on such forward-looking information as the Company can give no assurance they will prove to be correct. Forward-looking statements in this press release are made as of the date of this press release. The company disclaims any intent or obligation to publicly update any forward-looking information (whether as a result of new information, future events or results, or otherwise) other than as required by applicable securities laws.