SPACE Metaverse has acquired $7 million in capital from a number of tier-one venture funds in order to establish the economic foundation to join various metaverses into “one parallel society.”
The funding Included some of the most prominent names in the DeFi and crypto space such as Coinfund, Dapper Labs (creators of NBA Top Shot and Flow), Digital Currency Group, Animoca Brands, Hof Capital, among others.
The Space product has launched with an Early Access Alpha version that reportedly features 10,000+ users. The product enables anyone “to join virtual Spaces and chat, talk or trade with others in the same room,” the update noted.
In the meantime, the project secured over 100 partnerships with various art, fashion and music industries.
SPACE plans to be the virtual world “building the next frontier of social commerce experiences in the metaverse.”
By creating an engaged user-owned economy via unifying knowledge, common effort and equitable rewards distribution, SPACE aims to “create the easiest to access yet immersive metaverse experience for brands and users, based on a culture of collaboration and economic opportunities,” the update explained.
Batis Samadian, Founder of SPACE, said:
“As the metaverse continues to gain mass adoption and becomes a place a where a lot of people meet up to socialize, a natural evolution is commerce, which is what Space is focused on. Users will want to be able to view shows, buy items, sell items, and engage with digital goods within the metaverse. Space is building the Shopify for the metaverse to enable creators to sell their digital items in a turn-key fashion and allowing users to purchase it.”
Space focuses on “creating the next frontier of social commerce experiences in the metaverse: showrooms, stores, gathering places,” the announcement noted.
The initial spaces “encompass what’s immediately available in the current metaverses, which includes art, fashion and music.”
Space says that it will evolve “together with the Metaverse to enable new and exciting ways of facilitating virtual commerce.”
Vanessa Grellet from Coinfund said:
“We’re excited to be a part of SPACE and have them be the leader in building the commerce virtual world. The race is on for the few players who will bring future of events and commerce to Web 3, and we are sure SPACE will be one of them.”
Sandeep Nailwal at Polygon remarked:
“Glad to see Polygon Studios backing projects like Space. The race is on for the few players who will bring future of work and commerce to web3, and SPACE team is one of the most promising ones to be leader in building commerce virtual world.”
As noted in a release, SPACE is a metaverse “catered to the arts and to commerce, aiming to provide powerful builder tools that allow users to design and create immersive commerce spaces without barriers.”
It acts as the “glue to the various metaverses, bridging the many virtual worlds into one trading hub.”
The team is focused on ”creating a vibrant user-owned economy through unifying knowledge, common effort and fair rewards distribution, based on a culture of collaboration and economic opportunities.”
