SPACE Metaverse has raised $7 million to bring its vision of the Metaverse to life.
The project focuses on creating an environment where socializing and virtual commerce can thrive within the Metaverse.
Capital has poured into Metaverse-related ventures since Facebook announced its rebrand to Meta.
Share this article
SPACE Metaverse will use the funds to help build out the Metaverse.
SPACE Metaverse Announces $7M Raise
Capital keeps flooding into the Metaverse.
SPACE Metaverse is one of the latest projects to benefit from the boom after closing a $7 million funding round. The raise saw participation from some of the most prominent teams in the space, including Coinfund, Digital Currency Group, Animoca Brands, Polygon Studios, and NBA Top Shot creator Dapper Labs.
SPACE Metaverse aims to create a virtual world that allows anyone to explore and interact with others. It’s focusing on what it calls “social commerce experiences” in the Metaverse, where users can earn rewards and benefit from economic opportunities in a way that was never possible in Web2. Batis Samadian, the project’s founder, explained that it’s hoping to provide the infrastructure for the decentralized economy evolving within the Metaverse in a press release. He said:
“As the Metaverse continues to gain mass adoption and becomes a place where a lot of people meet up to socialize, a natural evolution is commerce, which is what Space is focused on. Users will want to be able to view shows, buy items, sell items, and engage with digital goods within the Metaverse. Space is building the Shopify for the Metaverse to enable creators to sell their digital items in a turn-key fashion and allowing users to purchase it.”
Coinfund’s Vanessa Grellet added that SPACED Metaverse could become “the leader in building the commerce virtual world.” She said that SPACED Metaverse is poised to become a leader in the space as projects rush to create the future of events and commerce. Sandeep Nailwal, a co-founder of Polygon, also described it as “one of the most promising” projects focusing on virtual commerce.
“The Metaverse” has become something of a crypto buzz word in recent weeks, not least since Facebook announced its rebrand to Meta to focus on “bringing the Metaverse to life.” The likes of Solana Ventures, Enjin, and KuCoin have all announced nine-figure Metaverse-focused funds, while the tokens for Metaverse gaming projects have soared. With new capital raised, SPACE Metaverse will be hoping that the excitement surrounding the concept continues into 2022.
Disclosure: At the time of writing, the author of this feature owned ETH, MATIC, and several other cryptocurrencies.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
Solana Ventures Launches $150M Fund to Boost GameFi on Solana
Solana Ventures has partnered with Forte and Griffin Gaming Partners to invest in Solana’s blockchain gaming ecosystem. Solana Ventures Leads $150M Funding Initiative The Solana ecosystem is getting more funding…
Audience Survey: Win A $360 Subscription To Pro BTC Trader
We’re doing this because we want to be better at picking advertisers for Cryptobriefing.com and explaining to them, “Who are our visitors? What do they care about?” Answer our questions…
KuCoin Launches $100M Fund to Build Out Metaverse Projects
KuCoin Labs has announced a $100 million Metaverse fund to help develop and support early-stage Metaverse projects. KuCoin Bets on Virtual Worlds KuCoin Labs, the investment and research arm of…
Enjin Allocates $100M to Fund a Metaverse
Enjin has created a $100 million fund for a cross-chain Metaverse it is building on Polkadot. It plans to build an entirely new dedicated blockchain for the project. Enjin Invests…
Be the first to comment