MetaDojo Secures $3 Million In Funding As Demand For Metaverse Premises Continues To Accelerate
MetaDojo secured $3 million in seed round funding to establish accessible and affordable Metaverse premises. The round noted participation from numerous investor heavyweights.
MetaDojo received a financial injection to the tune of $3 million in its quest to develop ready-to-use Metaverse premises. While Metaverse development is at an early stage, there is a clear need for better infrastructure regarding the real estate aspect of this virtual world. MetaDojo fills that need by extending ready-made blockchain-based 3D space to NFT owners and Metaverse enthusiasts so they can develop their virtual land and grow communities.
As mainstream businesses begin exploring opportunities in the Metaverse, the solution provided by MetaDojo can help address some of the initial headaches associated with establishing a Metaverse presence and growing a loyal community. Moreover, Dojo Owners can focus on branding and community building, while exploring opportunities in play-to-earn, the creator economy, and benefiting from multi-chain scalability.
Each Dojo represents a customizable non-fungible token that its holders can deploy to different Metaverses and embed on their website. A Dojo is a gateway to give any website or Metaverse visitor an unforgettable experience. The digital assets will be compatible with the ERC-721 Ethereum token standard and will be stored on the InterPllanetary File System (IPFS).
MetaDojo operates on a three-tier structure:
- Metaverse environment: Achieving mass adoption through ready-to-use Dojos;
- In-Dojo economy: play-to-earn, NFT minting and trading, virtual events with NFT passes, and the creator economy;
- Dojo Metaverse: land allocation for Dojo owners and reflection of existing Dojos.
The MetaDojo team raised $3 million from various prominent blockchain and crypto investors. Digital Finance Group (DFG) led the round, and participants included OKX Blockdream Ventures, NGC Ventures, NFT Technologies, IBC Group, TsingTsing Capital, and others.
James Wo, CEO and founder of DFG, commented on the investment round:
“Looking at the Metaverse industry at the moment is very exciting, we are at an early stage and the quality and quantity of projects is impressive, however, we’ve witnessed a generalized focus on the real estate aspect of the Metaverse, which still leaves a great number of important gaps to be filled. MetaDojo is a great reference point due to its value adding to the industry focused on a niche part of this futuristic sector.”
NGC Ventures Partner Roger Lim noted the unique opportunities MetaDojo can bring to businesses:
“MetaDojo reduces time to market for businesses and communities wanting to get into the Metaverse by providing ready to use 3D environments such as Art Galleries, Retail Stores, Schools, Function Rooms and Nightclubs. Making it easier for businesses to digitally engage with their stakeholders will give them a competitive edge over their rivals.”
Following the $3 million raise, MetaDojo will focus on further technical developments — interior and exterior design — and enhance the in-game experience. The Marketplace will also enter development, which will play a crucial role in the Dojo Metaverse. In addition, a portion of the funds will be used for marketing, PR, operating costs, and upcoming partnerships to strengthen MetaDojo’s ecosystem and market position.
Creators are significant contributors to the MetaDojo ecosystem, by turning their valuable skills and experience into professional services and/or NFTs listed in the marketplace.
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