CoinFund, Franklin Templeton Back NFT Venture Studio Metaversal With $50M Raise
NFT venture studio Metaversal raised a $50 million Series A funding round led by CoinFund and Foxhaven, the company announced Tuesday.
The non-fungible token firm says it will use the funding to grow its portfolio and support companies working toward building an open metaverse.
NFT interest is back on the rise with projects like Bored Ape Yacht Club eclipsing $1 billion in all-time sales on Tuesday.
For context, Metaversal was the first institutional investor in ConstitutionDAO and has collected more than 750 NFTs to date.
Collab+Currency, Dapper Labs, Digital Currency Group (DCG), Franklin Templeton and Rarible were also participants in the funding round, according to a press release. (DCG is the parent company of an editorially independent CoinDesk.)
The venture studio plans to collaborate in the near future with Dapper Labs, creator of the popular NFT platform NBA Top Shot, and Rarible, an NFT marketplace, the press release said.
“We are thrilled to welcome some of the foremost blockchain and technology investors into our mission to invest in the infinite stories of our culture,” Yossi Hasson, CEO of Metaversal, said in a statement.Source