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Alchemy Ventures Backs $4M Round for NFT Platform Vibe
The no-code NFT-to-product toolset allows creatives to add utility and value to their tokens.
By Brandy Betz
Updated May 9, 2023, 4:13 a.m. Published May 4, 2023, 2:00 p.m.
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.
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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.”
Read more: Alchemy’s Venture Arm Wants to Align With 'Web3 Missionaries, Not Mercenaries’
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