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Seed Round · 2026

Turn Fandom
into Finance

PixUP builds the circulation infrastructure for cultural collectibles — turning every card into a repeating cash flow event for players, stores, and IP owners alike.

Total Market
$285B
Global collectibles economy
Serviceable Market
$25B
Cards · blind draw · recirculation
Raising
$2.5M
10% equity · $25M post-money
Node Payback
5.5 mo
Per CVM unit · floor model
Year 1 Target
200
CVM deployments across US
Year 3 EBITDA
$12.5M
3,000+ CVM ecosystem
PixUP in 30 Seconds
01

Cards are a $285B asset class.

02

But circulation infrastructure does not exist.

03

PixUP builds it with CVM (vending nodes) + VIA (authentication) + RePool (resale & recirculation).

04

Each card becomes a circulating asset.

The Gap

The market is enormous.
The infrastructure doesn't exist.

Today's reality

  • Cards sell once — IP owners exit after first sale
  • Authentication siloed from circulation and settlement
  • No governed recirculation layer exists at system level
  • Fragmented: PSA + eBay + Whatnot + retail — no handoff
  • Secondary market growth benefits no one upstream
  • Supply expands without coordination, standards, or structure

With PixUP

  • One card circulates multiple times → multiple revenue events
  • VIA (authentication) → FlowMark (pricing) → RePool (resale pool): one connected system
  • IP owners earn on secondary resale — not just first-sale royalties
  • Single infra: issue → authenticate → clear → recirculate
  • Gen Z collector behavior is already asset-operator behavior
  • Circulation velocity becomes a governed, measurable variable
What Makes This Different
Differentiator 01 · Recirculation
One card.
Multiple monetization events.

Every other player in this market sells a card once and walks away. PixUP's RePool turns that single transaction into a governed recirculation loop — the same card can be authenticated, resold, returned, and redrawn. Each cycle generates fees, price signals, and platform revenue. The asset doesn't die at checkout. It keeps working.

Issue → Authenticate → Resell → Return → Redraw → Repeat
Differentiator 02 · IP Incentive
IP owners earn
beyond the first sale.

In every existing model, IP owners earn once — when the card ships. After that, secondary market growth is invisible to them. PixUP is building a revenue-sharing mechanism that gives IP owners ongoing earnings based on how their cards actually circulate. The more a card keeps moving, the more its IP earns. This changes the incentive for top IPs to choose PixUP over any other channel.

First-sale royalty + Secondary circulation earnings = Structural loyalty
The System

Three layers. One closed loop.

01
CVM
Collectible Vending Machine · Physical Entry

Distributed offline entry points deployed in boba shops, laundromats, K-Fan stores, and live events. Each unit is a self-contained cash flow node — payback in ~5.5 months, zero staff required at location. Scale is made possible by MeetUP — PixUP's mobile operations fleet handling restocking, maintenance, and inventory management across all nodes. Without MeetUP, thousands of CVMs would be unmanageable. With it, the network runs as a single coordinated system.

02
VIA × FlowMark
Authentication & Pricing · Trust Layer

Visual · Integrity · Authentication generates verifiable digital certificates for every card entering the system. FlowMark derives real-time price signals from velocity, scarcity, and transaction data. Physical cards become auditable, priceable assets — eligible for RePool and the settlement layer.

03
RePool
Governed Recirculation · Clearing Layer

Once a card enters RePool it never returns to fragmented state. Multi-source supply — IP issuance, creator cards, consignment, player returns — keeps the pool self-renewing. Scarcity and pricing are managed by clear system rules, not by any single party. Hoarding loses its structural advantage.

Vending NetworkCard AuthenticationResale & RecirculationReal-Time PricingGlowUP ConsumablesIP Ongoing EarningsCreator Card IssuanceMeetUP Mobile FleetSaaS PlatformSettlement & Clearing Vending NetworkCard AuthenticationResale & RecirculationReal-Time PricingGlowUP ConsumablesIP Ongoing EarningsCreator Card IssuanceMeetUP Mobile FleetSaaS PlatformSettlement & Clearing
Participants

Each move creates value.
Together they create liquidity.

Demand Initiators
Players (Offline & Online)
Lucky Draw / Live Breaks → Secondary circulation → VIA certification → Optional return → Re-draw or resell. Fan behavior is the primary demand engine — KPOP pulls alone run 5–10 packs per session.
→ Demand activation & circulation start
Distributed Nodes
Offline Stores
Host CVM → On-site draws → Foot traffic → Automated revenue share. Zero staff overhead. Plug-and-play deployment with remote monitoring. 28% revenue share with no operational involvement required.
→ Physical distribution & parallel circulation
Supply Custodians
Online Pro B2B
Consign → Custody → Batch VIA → Multi-channel listing → Resell. Faster turnover, lower unit cost, stable supply into RePool. Professional inventory management without heavy asset ownership.
→ RePool replenishment & quality supply
Issuance Sources · Largest Growth Driver
IP Owners & Creators
Issue → Define series and rarity → Distribute → Continuous fan outreach. Unlike traditional models, IP owners receive IFCI-based ongoing incentives from secondary circulation — not just first-sale royalties.
→ Primary issuance feeds secondary circulation
Why Now · Why This Round

The behavior already exists.
The infrastructure does not.

Demand is proven

TCG and photocards sell out across US retail.

Mainstream participation is no longer in question. Gen Z treats collectibles as identity, social currency, and tradeable value — not one-time purchases.

Supply expanding without structure

More content than ever. Zero coordination.

Creators and IP holders issue more than the market can absorb cleanly. Issuance standards, verification, and resale remain completely fragmented.

The window is open — and closing

No one owns the recirculation layer yet.

Vending automation is mature. Rising labor costs make staffed retail nodes uncompetitive. The category is being defined right now — the first infrastructure layer to achieve network density will own it.

Why invest now — not later

This round funds the OS. Nodes come after.

$2.5M builds the operating system — VIA, RePool, FlowMark, MeetUP operations backbone — before network deployment. Every CVM deployed after this round is profitable from day one at floor assumptions. Investors who wait fund replication at a much higher valuation.

AI Layer

AI as an operational amplifier
not a product feature.

AI is embedded throughout PixUP's system to reduce human bottlenecks and support scalable asset circulation. Not a marketing claim — it is the operational layer for execution, clearing, and risk control. Its value compounds as data accumulates across nodes.

Asset Identification
Recognition & Eligibility

Image matching, duplicate detection, and multi-angle verification at scale. Consistent, auditable asset identification — reliable input for custody and clearing regardless of volume.

Pricing & Risk Signals
FlowMark Generation

Behavioral data — rarity, demand intensity, resale velocity — generates explainable price reference signals and surfaces risk exposure before it hits the clearing layer.

Operations & Forecasting
CVM Replenishment & Stability

CVM restocking planning, location performance analysis, and resale flow forecasting. The network runs more efficiently as data accumulates — scale improves operations, not just revenue.

The Cashflow Loop

One card. Two channels.
One closed loop.

Offline and online are parallel entry points — not sequential steps. Every card that enters either channel feeds the same authentication, resale, and recirculation system. PixUP earns at every stage of a card's life — from first draw to final resale.

OFFLINE ONLINE FIRST ISSUANCE CVM Lucky Draw Boba · Laundromat · K-Fan MeetUP mobile fleet Live Breaks Online unboxing · streaming Creator & IP issuance Buyer receives card Unverified · $15 per pack · blind draw Keep & Collect No further action VIA Authentication Buyer pays · gets certificate Visual · Integrity · Authentication Return to PixUP PixUP pays VIA internally RePool Governed recirculation Secondary Market FlowMark price · consign & sell Buyer-initiated PixUP-operated Recirculation Optional path
Unit Economics
Profitable
from node one.

PixUP's expansion starts from the smallest profitable unit — not subsidies or future narratives. Floor model holds at 2.8 packs/day. Real sessions run 3–5 packs per visit. KPOP fans who miss their pull don't stop — they pull again. Net income per pack structurally increases as creator licensing costs decrease.

Pack Retail Price5 cards per pack · blind draw
$15
Platform Net RevenueAfter IP license 20% + retailer 20% + channel costs $2.35
$6.65
Monthly Net (floor)~83 packs per month · conservative floor
$550+
Payback PeriodPer CVM unit · offline lucky draw only
5.5 mo
GlowUP SleevesHigh-margin consumable · every card needs one · VIA ritual object
Recurring
Year 3 Ecosystem EBITDA3,000+ CVM network at scale
$12.5M
Market Sizing

The recirculation layer
is structurally unowned.

TAM
$285B
SAM
$18–25B
SOM
$1.2–2.0B
Primary Channel
10K → 100K

US boba shops over 5 years. Near-perfect demographic overlap with KPOP & anime card consumers. Expansion already in motion — PixUP rides the wave, not chases it.

Captive Channel
30K+

US laundromats. Weekly mandatory visit, 30–45 min dwell time, nothing to do. Highest conversion potential per node. An audience that actively needs distraction.

Mobile Layer
MeetUP

PixUP's mobile deployment fleet for concerts, conventions, and campuses. Fan density peaks at live events — MeetUP captures demand surges that fixed CVM nodes structurally cannot reach.

Team

Executive ownership
across every lifecycle layer.

IP & Issuance
Will
MBA · Global IP operations & creator ecosystem. Issuance standards, cross-cultural consistency, and long-term content alignment.
Infrastructure
John
MS ISM · Large-scale platform architecture. Coordinates issuance, authentication, settlement, and circulation logic.
Card & Market
Alan
Card issuance & promotion experience. Series design, release cadence, and market absorption strategy.
Retail Network
Zoe
North America retail partnerships. Standardized and modular offline store deployment at scale.
Settlement
Lan
CPA · Payments, ledger, and reconciliation systems. Value confirmation and secure clearing integrity.

Appendix A · Capital Allocation

Equity builds the OS.
Debt expands the network.
Assets compound system value.

Equity
$2.5M
Building the Operating System
10% equity · $25M post-money valuation. Funds: GlowUP consumables & IP supply capacity $0.7M · CVM cold start buffer $0.8M · VIA × FlowMark × RePool system integration $0.7M · Legal & compliance $0.3M.
Debt
Rolling
Expanding the Physical Network
12-month rolling facility for verified node replication. Combined with refundable deposits and supply chain terms. Target DSCR ≥ 1.5. Single node payback ~5.5 months — debt self-liquidates without equity dilution.
Assets
VVCV
Building the Circulation Foundation
VIA × FlowMark × RePool establish a traceable, auditable resale management structure. Reserves and settlement deposits form a risk buffer — absorbing inventory and circulation fluctuations, improving long-term capital efficiency.
12-Month Execution Plan
Deploy 200 CVMs across US — 50-node LA pilot first. Locations: boba shops · laundromats · K-Fan · GameStop · Hot Topic · Follett.
Launch 5 MeetUP vehicles. Advance 10+ IPs/SKUs: K-pop · MrBeast · Local Creators (self-operated) · Labubu (via agency).
Appendix B · Value Creation Layers

Three layers.
One compounding system.

Layer 1 · Transaction Channel
GlowUP · Issuance · VIA · Commissions
$3M → $50M+
CVM floor GMV grows as nodes replicate. PixUP verifies unit economics viability per node and establishes an auditable, reproducible cash flow foundation across issuance models.
Layer 2 · System Capabilities
SaaS · Settlement Fees · Data Services
$0.6M → $10M ARR
Standardized orchestration for issuance, authentication, execution, and clearing. Supports multi-node parallel replication and system-level collaborative operation.
Layer 3 · System Value
Auditable Cashflow · VIA Data · RePool
$12.5M EBITDA
Year 3 · 3,000+ CVMs. Economic value accumulates as usage and circulation density grow — not from single transactions or short-term scaling, but from compounding system activity.
Appendix C · Competitive Landscape

A fragmented market.
A unified infrastructure.

Player Structural Focus & Constraint What PixUP Unifies
Pokémon / Topps
IP Issuers
Create content, but stop at issuance. No circulation data, no settlement layer, no secondary participation. Unified issuance → execution & settlement → traceability. IP earns on secondary via IFCI — not just first-sale royalties.
PSA
Authentication
Strong grading, but certification ends at the outcome. No connection to circulation, pricing, or resale. VIA × FlowMark × RePool closes the loop from authentication through to circulation and clearing.
Whatnot
Live Breaks
Fast transactions, but online-only. No offline touchpoints, no system APIs, dependent on individual hosts. Offline CVM × Live breaks × Secondary resale unified as one system-level infra. No host dependency.
POP MART
Blind Boxes
One-time consumption model. No recycling mechanism, no asset continuity, no secondary layer. RePool converts disposable single-purchase behavior into reusable, cycling assets with compounding value.
Crossing
Live Break & Retail
Inventory-heavy, slow to replicate, high operational overhead. Asset-heavy model limits speed and margin. Asset-light CVM nodes with plug-and-play circulation. Partners deploy in days, not months.
eBay / TCGPlayer
Marketplaces
Passive listings only. No issuance, no authentication, no recirculation control. Pure traffic arbitrage. End-to-end infra: issue → authenticate → clear → recirculate. Not a traffic-based marketplace.
Appendix D · Multi-Stream Revenue

Value captured at every
point of the asset lifecycle.

Stream 1
Infrastructure Services
SaaS subscriptions from IP owners, creators, custodians, and retail nodes. Supports standardized operation of the entire system. Scales with node count, not headcount.
Stream 2
Trust & Settlement
VIA authentication fees and settlement fees. High-integrity, data-rich revenue directly aligned with verification demand. Grows with transaction volume.
Stream 3
Circulation Activity
CVM commissions and RePool resale participation. A portion of secondary fees redistributed via PixUP's IP earnings sharing mechanism based on circulation contribution.
Stream 4
GlowUP Consumables
PixUP's card sleeve line — high-margin, usage-linked, recurring. Every card entering VIA certification needs one. Demand is structural, not promotional. GlowUP also serves as the physical ritual object of the authentication process.
Stream 5
Online Marketplace Access
Live break fees and secondary resale commissions. Optional participation module — activates where liquidity is required. Scales with platform activity.
Stream 6 · Future
Institutional Extensions
Once VVCV matures in scale and stability: asset-backed structures and operational float based on real circulating cash flows. Not a prerequisite — a natural evolution of system depth.
Appendix E · Key Risks & Countermeasures

Every risk is structurally addressed.

Risk
Mitigation
Outcome
Supply Volatility
Multi-source supply (IP, creators, B2B consignments, player returns, regeneration) + VIA classification. RePool structure self-renews over time.
Structurally self-renewing pool that doesn't depend on any single supplier
Offline Expansion Speed
Plug-and-play CVMs in boba shops and laundromats. Remote monitoring and automated operations. MeetUP fleet for mobile deployment.
Scalable to tens of thousands of touchpoints with minimal incremental labor
Authentication Accuracy
Three-layer verification (image × batch × optical), AI duplicate detection, and manual sampling checks at scale.
Fast, consistent, and auditable authentication — maintained as volume grows
User Arbitrage & Fraud
AI behavior scoring, anomaly detection, blacklist systems, and batch-level traceability across all circulation events.
Clean and trustworthy circulation loops under real-world usage conditions
FinTech & Compliance
Compliant PSP partners, full-ledger traceability, and KYC/AML-ready processes embedded from day one.
Institution-ready asset infrastructure built on VVCV framework
System Complexity
Unified SaaS × VIA × RePool with standardized workflows. Complexity is contained inside the system — users experience simplicity.
Structural depth without user-facing friction. Scales without proportional overhead

The infra for cultural
assets starts here.

PixUP

PixUP is raising $2.5M to build the operating system layer before deploying the network. The behavior already exists. The infrastructure does not. This round closes that gap — and every node deployed afterward is profitable from day one.

Round Size$2.5M
Equity Offered10%
Post-Money Valuation$25M
12-Month Target200 CVM nodes · US
Request Full Deck →

or email will.long@pixup.cards

Built for the Global Collectibles Circulation Economy