CXIP Labs raises $6.5 million to launch NFT product suite for creators and businesses

CXIP Labs, a protocol aiming to fix common problems in NFT minting, raised $6.5 million in seed funding to launch a new product suite for creators, developers and businesses.

The new protocol Holograph, of which CXIP Labs will be the parent company, aims to make NFT minting and bridging more intuitive and cheaper, allowing NFT creators to create new works without extensive coding knowledge and for developers to bridge NFTs between blockchains easier. 

CXIP Labs was originally founded by intellectual property lawyer Jeff Gluck and sought to protect the copyright of NFT creators. The protocol then expanded to tackle NFT issues involving verification, data impermanence, fragmented royalties and high minting cost on Ethereum. CXIP's technology has been used to facilitate NFT drops from Sotheby's Metaverse and Nifty Gateway. 


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Courtside Ventures and Wave Financial led the seed round, with additional funding from Vaynerfund, a venture capital firm founded by entrepreneur and internet personality Gary Vaynerchuck, the musician Diplo, NFT influencer Gmoney, Nadya from Pussy Riot, NFT artist Justin Aversano, Arca NFT Fund, Infinity Ventures Crypto, Kenetic Capital, Mirana Ventures, Company Ventures, Avalaunch, Soma Capital, Kosmos VC, Palm Drive Capital and others.

In addition to the funding round, CXIP Labs adds musicians Pharrell Williams and Joe Jonas to its board of advisors. 

Last year, CXIP Labs raised a $1.7 million seed round (The Block Research's Larry Cermak and Lars Hoffmann participated in that round as angels). 

Disclosure: Members of The Block Research may participate in equity or token sales organized by firms and projects that The Block News covers. The Block News has no knowledge of this participation before it is publicly announced, and no special consideration is given to news involving projects backed by members of The Block Research.

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.