Metaversal, an investment firm that funds companies and creators building an open Metaverse, announced on Tuesday that it had raised $50 million in Series A funding.
Leading this round of investment was CoinFund, a crypto focused firm based in the US. Foxhaven Asset also led in the investment.
Other firms participating included: Dapper Labs, Rarible, Digital Currency Group, Collab+Currency, Franklin Templeton, Galaxy Vision Hill, Narwhal Ventures and NGC Ventures.
Metaversal intends to use the funds raised to scale up what they were already doing, i.e. acquiring or funding NFT and Metaverse related companies, acquiring NFT assets, and funding other NFT projects.
With the NFT trade volume exceeding $13 billion in 2021, the first year the concept went truly mainstream, there is certainly lots of growth potential for Metaversal.