Metaversal, an investment firm and venture capital firm specializing in non-fungible tokens (NFT), announced on Tuesday that it has raised $ 50 million in Series A funding.
CoinFund, a US-based cryptocurrency-focused investment firm and investment partnership Foxhaven Asset spearheaded a funding round that additionally featured Dapper Labs, Rarible, Digital Currency Group, Collab + Currency, Franklin Templeton, Galaxy Vision Hill, Narwhal Ventures, NGC Ventures and others …
Metaversal intends to leverage the new funding to support NFT-related business strategies such as acquiring digital collectibles, funding NFT-focused projects, and partnerships with other NFT industry players such as the Rarible blockchain and Dapper Labs.
CoinFund announced its bid to create Metaversal last year. The idea was to allow investors to bet in the NFT market and help develop NFT-focused firms. CoinFund has also previously invested in Rarible and Dapper Labs.
NFT’s trading volume exceeded $ 13 billion in 2021, and their potential use cases have expanded to include use as collateral for loans and the inclusion of additional assets on sale, such as a business.
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