UAE Metafi, a trading metaverse platform for NFTs and tokens, has raised $3 million from investors in the Web3 industry.
The names include DoublePeak Group, Maven Capital, OKX Blockdream Ventures, Megala Ventures, Magnus Capital, Legion Ventures, SL2 Capital, X21 Digital, Good Games Guild, MetaGaming Guild, Mintable Go! Fund, and Athena Ventures among others.
Metafi is a financial market in the metaverse, where users can socialise as they trade. It combines twitter and telegram discussion with trading.
According to the company, it will use the funding to build its first core product, the Trading Metaverse, a new kind of social trading experience governed by its users. Over 90,000 people are waitlisted for the platform launch later this year.
Matt Danilaitis, Founder of MetaFi, said, “Most trading platforms compete with nearly identical products. MetaFi reimagines the trader’s experience: making trading fun, engaging, and social. With the Trading World, MetaFi will aggregate major decentralised protocols with deep liquidity, wrapped in a new gamified trading environment, designed to be a seamless onramp for non-crypto audience. We are grateful for the support from our strategic partners as we bring Web3 asset trading to the masses.”
The UAE recently launched its metaverse strategy where it intends to increase the number of Blockchain and metaverse companies from 1000 to 4000 by 2025. It also aims to build the metaverse economy to around $4 billion during the same time period.
Metaverse economy is estimated to become an $800 billion-dollar market in just two years and that it could contribute $3 trillion dollars to the global economy in the next decade.
