MetaMundo 3D Metaverse Marketplace Targets 2022 Launch With New Funding

MetaMundo is a virtual nonfungible token (NFT) marketplace that is focused on the metaverse. The developers have announced the completion of a seed funding round of around $2.7 million. Spearheaded by Animoca Brands, MetaMundo’s debut funding also featured OP Crypto, Metaartel Ventures, Hypersphere Ventures, and Digital Currency Group. The angel investors that participated include Aave and Rarible, among others.

The platform is expected to launch in Q1 2022 and will ideally facilitate the buying, selling, and licensing of various metaverse assets. Developed on layer-two network Polygon, the platform enables creators and designers to mint, sell, and license their NFT assets for use in augmented and virtual reality. It can also be used in multiple metaverses like Cryptovoxels, Decentraland, and Somnium Space.

Their announcement said that using the Polygon network offers users a chance to enjoy reduced gas fees when compared with the Ethereum network.

One of the reasons we decided to start building on @0xPolygon: pic.twitter.com/dbY96pWhKv

— MetaMundo (@metamundo_NFT) November 9, 2021

Based on the statement by MetaMundo, the marketplace is projected to launch in the coming months. It will host a huge library of items like wearables, avatars, buildings, vehicles, and many others.

MetaMundo To Help The Metaverse To Thrive

Mark Studholme, the MetaMundo co-founder, highlighted and explained the technology that is powering this project:

“MetaMundo has a suite of tools that convert, decimates, and optimizes the original 3D ‘parent’ file provided by the creator to individual ‘child’ files optimized for each metaverse. We mint the parent file as one NFT using the ERC 721 contract, and this parent NFT is a wrapper for the child files and NFTs. So, when you collect the parent NFT, all the child NFTs come with it.”

Studholme was also quick to add that when the platform incorporates more metaverses, they will:

“Convert and optimize new child files and add these to the parent NFT.”

A research report that was published in late November by Grayscale forecasted that the metaverse industry may soar to reach $1 trillion in value in the coming years as mainstream audiences become majorly engaged and immersed in the burgeoning virtual worlds.

Popular metaverse tokens SAND from The Sandbox and MANA from Decentraland have experienced spikes that pushed them to new all-time highs in recent weeks. That trend is believed to have been instigated by news of Facebook’s decision to pivot into a metaverse firm, Meta.

The executive chairman and co-founder of Animoca Brands, Yat Siu, commented on the importance of creating interoperability across various metaverse spaces:

“Interoperability is an essential feature of the open metaverse. MetaMundo is creating a network of 3D creators and tools that make it possible to build the multiple emerging open metaverse environments that we envision as the future of digital experience.”