Blockchain-based deep-tech startup Metamall has raised $4.6 million in a pre-IDO round through token sales. Several new-age investors such as 316VC, CSP DAO, MarsVC, WLI Capital, BullPerks, HVS Ventures, and CCK ventures participated in the round.
An initial DEX offering, or IDO, is a new and exciting type of decentralized and permissionless crowdfunding platform, which is opening up a new way of fundraising in the crypto space. The startup has previously raised $1 million through NFT token sales. It will close the land sale before the IDO planned for January 2022.
“We are looking to take the Metamall platform live in six months, and we’re well on schedule to achieve this in that time frame,” the startup stated.
Metamall intends to deploy the funds for scaling up its tech and marketing divisions. The startup aims to collaborate with leading tech platforms and designers to curate an innovating and engaging metaverse for retail and gaming experiences.
This year, the company was founded by Serge Gianchandani to offer a first-of-its-kind virtual reality (VR) experience on the blockchain. It will enable users to build, explore, and trade in their very own virtual mall.
“We see generations of users spending quality time on metaverse for gaming, social networking, as well as building wealth. Metamall is a unique convergence of metaverse, NFT, and crypto that enables enriching user experience as well as giving brands, individuals, and experience owners to connect with their audience. We are very excited as this journey enters its next phase,” said Gianchandani.
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