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Jan 18, 2023

Metahood Secures $3 Million in Funding to Develop the Metaverse's Leading Real Estate Platform

Metahood, a platform that aims to provide more context for metaverse land buyers than a general-purpose NFT marketplace, has raised $3 million in seed funding led by crypto venture capital firm 1confirmation. The round also saw participation from Volt Capital, Flamingo DAO, Neon DAO and notable angel investors in the space, including Sébastien Borget (co-founder of The Sandbox), John Crain (co-founder of SuperRare), Brian O’Hagan (Growth Lead for Sorare) and Packy McCormick (VC and blogger/podcast host).


The startup plans to use the funding to expand its team and enhance the platform. The platform uses a map-driven interface to show available land plots in relation to those around it, providing a sense of the wider neighborhood or district while pointing out landmarks and highlighting sales trends, nearby land owners, and more. This allows buyers to understand the area they are buying into and make more informed decisions.


The platform supports land from several metaverse game worlds like Decentraland, The Sandbox, the Bored Ape Yacht Club’s Otherside, and Somnium Space. It will support native NFT land plot listings from individual users, as well as aggregate listings from marketplaces like OpenSea and LooksRare, while layering in added context. The platform plans to add more metaverse worlds as they emerge, while also building up its feature set and developing a hub for Web3 users to more easily discover metaverse experiences.


Metahood's founder, Gwendall Esnault, stated that the current market conditions are not ideal for a metaverse-driven project, but that the platform's approachable marketplace that lets prospective land buyers get a sense of a virtual neighborhood as it's taking shape, provides value. Despite the hype around the metaverse having peaked early last year, Esnault believes that if the future internet does turn out to be a place where the masses are going to own digital property and establish businesses, then they’re going to need a property sales platform made for more than just speculative flipping, similar to Zillow or Redfin in the real world.

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