MetaMundo, a virtual nonfungible token (NFT) marketplace focused on metaverses, has announced the completion of a seed funding round of $2.7 million.
The platform will enable users to buy, sell, and license metaverse assets once it launches in the first quarter of 2022.
MetaMundo’s debut funding included Hypersphere Ventures, Digital Currency Group, OP Crypto, Metaartel Ventures. Inaddition angel investments from the co-founders of Aave and Rarible, among others.
MetaMundo lets designers and creators mint, sell and license their NFT
The platform, which is based on the layer-two network Polygon. Additionally allows designers and creators to mint, sell, and license NFT assets for use in virtual and augmented reality. Moreover as across a variety of metaverse worlds such as Decentraland, Cryptovoxels, and Somnium Space.
According to the announcement, using the Polygon network saves users money on gas fees when compared to the Ethereum network.
The marketplace is expected to launch in the first quarter of 2022
MetaMundo predicts the marketplace will launch in the first quarter of 2022. In addition it will feature a large library of items such as avatars, wearables, vehicles, and buildings, among other things.
Mark Studholme, a co-founder of MetaMundo, explained the technology behind the project:
“MetaMundo has a set of tools that convert, decimate, and optimize the original 3D ‘parent’ file into individual ‘child’ files, each optimized for a specific metaverse. Using the ERC 721 contract, we mint the parent file as a single NFT. Which serves as a wrapper for the child files and NFTs. As a result, when you collect the parent NFT, it includes all of the child NFTs.”
When the platform integrates more metaverses, Studholme says they’ll “convert and optimize new child files and add them to the parent NFT.”