Metaversal Raises $50M in Series A Funding

UTC by Babafemi Adebajo · 2 min read
Metaversal Raises $50M in Series A Funding
Photo: Unsplash

The firm utilizes an IP-centric approach to curate and sponsor different NFT-related projects.

Premier venture studio and NFT production and investment company Metaversal has announced the completion of a $50m Series A funding round.

The funding round for Metaversal was co-led by blockchain investment firm CoinFund and research-driven investment company Foxhaven Asset Management. There was also further investment from Dapper Labs, Digital Currency Group, Galaxy Vision Hill, Rarible, Rockaway Blockchain Fund, and Spartan Capital and many more crypto investors. The company plans to use the funding to increase its NFT acquisitions and support Metaversal’s venture studio projects.

Excitement Trails Partnership with Metaversal

Speaking about the development, CEO and Co-Founder of Metaversal, Yossi Hasson noted the company’s thrill at partnering with blockchain and technology investors. President and Co-Founder of Metaversal, Dan Schmerin also expressed similar excitement.

Also, he said, “Our team remains laser-focused on execution.” Schmerin believes the funding round will help expand Metaversal’s investment capabilities in 2022.

Founder and CEO of Coinfund, Jake Brukhman also commented on the partnership. He expressed his excitement at the opportunity to help ‘shape a vibrant, platform-agnostic strategy’. He said that “as an early investor in NFTs and Metaverse companies, CoinFund remains committed to leading in this arena.” Brukhman believes Metaversal’s unique team composition gives them an edge in rapidly growing ecosystem.

Expanding Support for NFT

Established by Yossi Hasson and Dan Schmerin as recently as 2021, Metaversal has been on the news for all kinds of reasons. The firm was the first institutional investor in Nouns DAO when it invested in Noun #9. It was also the first institutional investor in ConstitutionDAO, a decentralized autonomous organization.

The firm utilizes an IP-centric approach to curate and sponsor different NFT-related projects. Its most notable assets are based on the Ethereum blockchain. The firm has acquired more than 750 NFTs including various rare collectibles from unique creators like Creature World and RarePepe.

Additionally, the firm is looking to provide support for an open-source metaverse on different blockchains including Flow and Tezos. Interestingly, new investor Rarible has supported both projects in the past.

Also, Metaversal has invested in various technological startups involved in the open metaverse including Holaplex and FAR Tech Ventures.

Blockchain News, Business News, Cryptocurrency news, Investors News, News
Babafemi Adebajo

An experienced writer with practical experience in the fintech industry. When not writing, he spends his time reading, researching or teaching.

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