Ethereum News

Dapper, CoinFund Back ‘SPACE’ Metaverse Play With $7M Raise

SPACE Metaverse, a virtual world for arts and commerce, has raised $7 million from investors including Dapper Labs, CoinFund, Animoca Brands and more.

The funding will be used to build and join various metaverses into one parallel society and “build the economic backbone of the metaverse,” according to a press release.Other notable investors included investment firm Hof Capital and Digital Currency Group (DCG), which also owns CoinDesk.SPACE said it has now come out of stealth mode and launched an early access alpha version with over 10,000 users.The metaverse is a space generated by the convergence of virtual worlds, augmented reality and internet services. The concept has fueled a rush of investment in recent months, sparked in part by Facebook’s rebrand to Meta.The metaverse sector may represent a market opportunity of over $1 trillion in annual revenue, crypto investment giant and DCG subsidiary Grayscale, said in a report released November, without specifying the timeline.

Read more: Grayscale Says Metaverse Is a Trillion-Dollar Market Opportunity

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