Virtual Real Estate Seller Metamall Raises $400,000 Via 80 Mn Crypto Tokens

Metamall, a metaverse start-up that allows buyers to own, build and develop virtual real estate has closed its IDO (Initial Dex Offering) to raise $400k with the supply of 80 million tokens. With this round of IDO, Metamall claims to have become the first retail commerce-themed Metaverse in the world to raise funding more than $7 Mn from private and public investors

IDO is a standard fund-raising tool used by crypto-based startups that follows private investors. Metamall has already raised $4.6 million in its seed, strategic and private rounds and over $2 million via NFT realty sales. It has conducted the present IDO with four different launchpads including Gamestation (on 8th February), Moonstarter and Gami (February 10) and Starter (February 14) to raise $100,000 from each launchpad with public participation based on launchpad rules.

Serge Gianchandani, co-founder of Metamall said, “Our community of crypto influencers and investors has provided invaluable support in building Metamall. With the spread of their words, we have reached the public round of fund-raise and look forward to making the platform live in 3-6 months. Our MVP (Minimum Viable Product) will be live by April."

Metamall is recognised as an integrated NFT marketplace that provides a store to trade NFTs created or used in the Metamall metaverse. It provides a blockchain-powered tool to create, showcase and trade NFTs. The marketplace also provides unique capabilities such as auction listing, governance mechanisms, trading history, profile-based suggestions, sale notifications and NFT drops notifications.

Built on the Solana Blockchain network, Metamall features native token MALL for users to buy virtual real estate and earn money by leasing, staking, advertising and developing the real estate based on choice.

Since the first round of seed funding, Metamall has seen a consistent rise in its token price. Starting with $0.00200, Metamall is offering a token price at $0.00500 in the public round.

In December 2021, Metamall closed $ 4.6 million pre-IDO through token sales. The funding round saw participation from investors like 316VC, MarsVC, Halvings, HVS Ventures, CCK ventures and Whitelist Ventures, among others.

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor