Metaverse service provider MetaEstate recently completed a multi-million dollar strategic round of financing, led by Matrixport and SevenX Ventures

Recently, Metaverse service provider MetaEstate headquartered in Singapore announced that it has recently completed a multi-million dollar strategic round of equity financing, led by Matrixport and SevenX Ventures, followed by Everest Ventures Group, Y+ Ventures and other institutions. The last round of investment institutions Japanese funds Cryptogram Venture (CGV) continued to follow suit. In this round of financing, several crypto investment institutional partners also participated in the investment in their personal capacity.

As a brand-new field, the virtual real estate market based on the metaverse ecology is booming around the world. According to the statistics of MetaMetric Solutions, in 2021, the virtual real estate sales of global mainstream metaverse projects Sandbox, Decentraland, Cryptovoxels and Somnium Space will reach 500 million US dollars, and it is expected to exceed 1 billion US dollars in 2022. Market consulting firm BrandEssence predicts that between 2022 and 2028, the compound annual growth rate of the virtual real estate market will exceed 30%.

As the virtual real estate market has been favored by the market and the media, virtual real estate has gradually become an important investment category for global asset allocation and wealth management. HSBC Holdings, one of the world's largest banking and financial service institutions, launched the Metaverse Investment Fund in April this year, including infrastructure and virtualization, to attract high-net-worth investors from Hong Kong and Singapore; a world-renowned real estate consulting company Knight Frank's "2022 Wealth Report" also pointed out that the investment fields of high-net-worth individuals are becoming increasingly diversified, showing a trend of shifting from "physical investment" to "virtual investment".

As a world-renowned metaverse ecological service provider, since its establishment, MetaEstate has carried out extensive business around the global metaverse planning and rational use of land, building excellent buildings, introducing well-known IP, developing usage scenarios, marketing activities, and property management services. It has accumulated rich practical experience and industry resources in the fields of issuance, operation and trading. Through this strategic round of financing, MetaEstate will introduce a series of strategic partners to provide necessary support for the next step in the deployment of emerging business sectors such as virtual real estate management, fund capitalization, business globalization, and EstateFi financial cooperation.

SevenX Ventures believes that from the investment perspective of blockchain technology and applications, Internet data and Internet assets generated by Web3 based on Metaverse are being empowered by blockchain technology, and virtual real estate will become an important metaverse infrastructure. MetaEstate is making steady progress towards a comprehensive solution provider for metaverse ecological infrastructure, with great potential for development

Lin Jihong, partner of Continue Fund, said that the metaverse frenzy led by millennials is triggering a redistribution of wealth. In the North American market in the United States and Canada, owning a house in the metaverse has gradually become a fashion trend among young people. We believe that under the background that the global virtual real estate market continues to improve, MetaEstate will continue to make new breakthroughs by taking advantage of the situation.

Jerome, partner of Everest Ventures Group, said that through collaboration with ecological partners including Sandbox’s global head metaverse space and Animoca’s ecological layout resources in the GameFi and NFT fields, combined with EVG’s own metaverse IP resources and invested companies, innovative application scenarios will be provided Support will help MetaEstate form a more personalized, differentiated and diversified competitive advantage in the virtual real estate market.

Y+ Ventures believes that the metaverse can break the time-space constraints of the supply of production factors such as land and labor in the real world, transform "land" into digital form to remove supply constraints, and create economic incremental value. MetaEstate's land development, building construction, scene development and other businesses around the Metaverse have the potential to generate economies of scale.

Steve, the founder of Cryptogram Venture, said that more IP elements will be introduced into MetaEstate to empower the ecological development of the Metaverse, allowing users to enjoy a richer and more interesting experience in the IP virtual space. At the same time, based on its unique resource connection capabilities in Asia, especially the Japanese market, CGV will work with MetaEstate to promote the implementation of a new business model that integrates virtual space and digital elements.

Kevin Shao, executive chairman of the Asian Blockchain Game Alliance (ABGA), emphasized that through the aggregation of resources on the ABGA platform, around GameFi and the metaverse ecology, the cooperation between different countries and regions in Asia and between different institutional alliances will be promoted. Through innovative development, Support the business development of member units MetaEstate, realize business integration, and create a win-win situation.

Jackey, co-founder of MetaEstate, said that virtual real estate is the cornerstone of Metaverse assets. MetaEstate positions itself as a metaverse service provider, aiming to help more users enter the metaverse world with a low threshold. Next, it will continue to consolidate and develop an innovative business model based on virtual real estate building development business, providing landowners with , artists, business owners and various users to provide a more immersive, real-time and diverse pan-entertainment experience; at the same time, in the future, we will continue to explore new organizational forms such as virtual real estate DAOs and trade unions, and focus on promoting virtual real estate issuance, operation and trading platforms Emerging businesses such as the construction and operation of

It is reported that MetaEstate completed a million-dollar seed round of financing in September 2021, led by Cryptomeria Labs and Rocktree Capital, followed by Kirin Fund, IcarusArt.AI, Waterdrip Capital, Consensus Lab, Chain Capital and Cryptogram Venture (CGV). At the same time, a number of KOLs in the fields of encrypted art, NFT and traditional VC participated.