Separation from Beanie
Who is Beanie?
Beanie is a crypto & NFT influencer/investor who GFunk managed to form a partnership with to launch Pixel Vault. Beanie invested the capital that Pixel Vault needed to launch, and offered up 13 of his own CryptoPunks. For more, read Pixel Vault's Origin Story.
Beanie’s ties to PV was a double-edged sword:
on one hand, Pixel Vault wouldn’t have been able to launch without his initial investment. With his large following, he was able to spread the word about PV, and draw a lot of attention to the project; especially with his infamous leaks of the PV roadmap.
on the other hand, he was a controversial figure; respected by some who made money following him, and hated by others who saw him to be quite provocative and misleading. On 17 January 2022, a thread was published by @NFTethics, suggesting that Beanie was involved in a series of scams.
GFunk responded the following day, announcing PV’s separation from Beanie, which had already been in the works for months. The separation would see all of Beanie’s PV assets returned to PV.
However, the drama didn’t end there. Some questioned why Beanie was receiving royalties from sales of PV assets, and whether Beanie was in fact the one in charge at PV, rather than GFunk.
To summarise GFunk’s response:
Pixel Vault was GFunk’s idea, and he ran the business from the very beginning
Beanie put up the capital & NFT assets to bring Pixel Vault to life, when no-one else was willing to, and therefore he was entitled to some of PV revenues
Moving forward, Beanie has no involvement with PV; he’ll hold no assets and earn no royalties
Fun Fact: Beanie's own CryptoPunk is one of the 16 PUNKS. Because of this, the Beanie character appears throughout PUNKS Comic #1 and #2. However in #3, Beanie's character enters a portal with the PUNKS crew, literally turns into a bean and then gets thrown back into the portal. Perhaps that's the last we see of his character?
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