DSTLRY is raising money, GamesBeat reports: a total of $7.4 million including $5 million in new funding.
As we’ve been reporting for quite some time, DSTLRY is run by ex-Comixology-ists David Steinberger and Chip Mosher, and has been releasing a series of nice looking books by top notch talents – topped off with Somna winning an Eisner award for Best New Series at SDCC a few weeks back.
According to GamesBeat – in an article that obviously wasn’t written by AI because AI has better grammar – the $5 million seed round funding will be spent on additional content deals and expanding DSTRY’s digital marketplace, a place where fans can buy and sell digital editions and collectibles.
The funding round was led by gaming venture capital firm 1AM Gaming, whose previous investments include Dorian, DreamCraft and the intriguingly named Octopus Panic, among many others. 1AM’s founder and managing partner Gregory Milken will join DSTLRY’s board of directors.
Previous DSTLRY investors include Kodansha USA, Groupe Delcourt, John Schappert, Mike Vorhaus, and producer Lorenzo di Bonaventura, as we’ve reported here in the past.
“We are thrilled to partner with Dstlry, a company that embodies innovation and creative excellence,” said Milken in a statement. “David Steinberger and Chip Mosher are creative geniuses who are not just pioneering in the tech sphere, but also redefining the comics and digital collectibles industry. They have an uncanny ability to find the new frontiers in technology and entertainment that empower the most vital storytellers and enrich the fan experience . We can’t wait to see how they further evolve this space.”
Vorhaus, already on DSTLRY’s advisory board, added, “Given the harsh environment for fundraising today, it is almost unheard of to see a startup secure such a substantial round. Yet, Dstlry has defied these odds, securing $5 million during this time—a testament to their unique value proposition and industry-leading innovation. This is the only startup I know of that has closed a round this big during the AI boom that didn’t have AI at the core of their business.”
Indeed, investing in something non-AI related would have been unthinkable a few months ago, but now looks like the prudent move. In the GamesBeat interview, Steinberger pooh-poohed the notion of using AI for DSTLRY. “I do think there’s some experimentation out there. But honestly, I think all the AI is just going to lead to a higher value for verification of real human made stuff. We know with our creators they live and breathe and make their money from creation. I think there are lots of great tools for AI to you to be used on are for great uses. But making comic books I think is a personal and human kind of thing.”
While AI will not be at the core of DSTLRY, this round of funding does highlight that the publisher is also a “a very premium comics and collectibles company with a collectible digital comics marketplace.” As we’ve noted here in the past, you don’t make $5 million publishing regular old comic books – at least not right off the bat, and DSTLRY has been upfront about making collectibles to go along with their (very excellent) comics content by Becky Cloonan, Tula Lotay, Jock, Brian Azzarello, Eduardo Risso and many more.
DSTLRY is also investigating the possibilities of digital collectibles with their DSTLRY Remarques and DSTLRY Proof systems. These were announced just before Comic-Con and I guess I missed it in all the excitement.
DSTLRY Remarques: Personalized Digital Editions and Sketches
DSTLRY Remarques allows creators to sign and sketch on digital editions of DSTLRY issues and books, creating completely individualized and re-sellable editions. This feature offers a new personal dimension to digital collectibles, enhancing their uniqueness and value for the customers, and like all collectibles on the DSTLRY Marketplace, creators receive a percentage of every resale of the signed or sketched digital collectible.
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DSTLRY Proof: IRL Benefits with Live Digital Ownership Verification
At SDCC 2024, DSTLRY will also debut DSTLRY Proof, a digital ownership verification tool designed to revolutionize digital ownership benefits, with in-person (IRL) digital ownership verification. The first application of DSTLRY Proof will be for obtaining the highly anticipated Mominu x Somna art toy, a limited-edition vinyl designer art toy colorway created by renowned artist Junko Mizuno. Mominu x Somna features metallic paints and a glow-in-the-dark candle. Inspired by Becky Cloonan and Tula Lotay’s character Ingrid from their hit series Somna, this art toy will be offered for sale in an extremely limited run of 20 units per day over the five days of SDCC…but only to those with PROOF that they own digital copies of Somna or The Devil’s Cut on DSTLRY’s digital platform.
These features rolled out at SDCC, and were a success…however, it’s important to note, so were the actual comics, which sold very briskly. Whatever the bells and whistles, DSTRY seems set on making actual content by actual humans the core of its business, and we’re all for that.
“in an article that obviously wasn’t written by AI because AI has better grammar”
Heidi Mac does not play.
Your coverage of DSTLRY here is so resoundingly positive, devoid of interrogation of their approach and disproportionately frequent in comparison to any other start up publishers that it does make it seem a lot like you’re on the payroll. Are you?
I’m not on their payroll – and they are not sponsors of the site. However, they send out a lot of PR which we cover. Can’t help it if their publicity team is on the job. Also they support creators and we like that at The Beat.
That said, we’ll see where it goes. Comics publishing is a tough business.
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