MetaZone Secures Funding to Expand the World’s First Tokenized App Platform for the Metaverse
Singapore, Singapore, May 30th, 2023, Chainwire
MetaZone announced today the completion of its US$3 million seed round co-led by metaverse industry leaders, Sfermion and CMT Digital, to expand their tokenized app platform pioneering the META, (Metaverse Enabled Tokenized Application). Top web3 funds Tess Ventures, IOSG Ventures,IVC (Infinity Ventures Crypto), Polygon Studios, MHC Digital, and LucidBlue Ventures also participated in the round.
MetaZone is the first and only platform that enables creators and developers to mint non-fungible tokens (NFTs) for functional 3D digital content and apps that can be distributed in the metaverse. Using the MetaZone platform, each creator’s META is assigned an NFT that represents its value, ownership, and access rights. These NFTs can be purchased and used to install each app on digital land where it can be utilized by the owner and visitors of that land.
MetaZone is also focused on building a set of developer tools that will provide standardized application-grade development frameworks that will enable creators to produce, distribute, and host virtual content (METAs) simultaneously in multiple virtual worlds including Decentraland, Spatial, OnCyber, Vault Hill City and Yuga Lab’s The Otherside.
Andrew Steinwold of Sfermion believes “ …supporting the development of metaverse applications will bring the web3 industry toward an inflection point, creating value and engagement needed for metaverse mass adoption and the resulting multi-trillion dollar virtual economy”.
Anything a creator submits to the MetaZone platform can be tokenized, purchased, and distributed through MetaZone’s app store. MetaZone has simplified the content upload process down to a few clicks, allowing owners of METAs to directly install digital content onto their virtual lands throughout the metaverse without the need to deal with cumbersome files and content deployment learning curves. MetaZone already has more active creators than Facebook’s metaverse.
MetaZone is at the forefront of a revolutionary shift, opening up new revenue streams for developers and creators through the distribution of their content across the metaverse. To date, US$2.5M has been generated by MetaZone’s creators, representing what MetaZone envisions as the beginning stages of a new digital economy that will rival the economic outputs of real-world nation-states. Many of MetaZone’s creators have generated thousands USD through the sale of their content, while several top creators have generated 6 figures in revenue.
Charlie Sandor of CMT Digital explains “The metaverse has the potential to usher in a new era of economic opportunity for a wide variety of participants. However, an aspect of its success relies on enabling creators and developers to generate content that is more impactful, functional, and engaging to ensure the metaverse produces experiences and future utilities that make it worth visiting.”
MetaZone’s creators have already made METAs for games, vending machines, interactive music players, and even decentralized exchange machines that allow users to swap cryptocurrency tokens from within the metaverse and owners of the METAs to collect revenue from users.
METAs can also enable businesses to distribute their brand presence to willing hosts, who can operate these applications on behalf of the original creators. The rise of such revenue-generating METAs is creating a new economy that resembles real-world franchising. Furthermore, METAs have the ability to be embedded with customizable smart contract payment splits that can facilitate multi-party incentive payout structures. For example, a simple vending machine that allows users to buy a wearable NFT will payout multiple parties involved in the maintenance of that metaverse land location and application. This opens up exciting new opportunities for businesses to expand their reach and revenue potential through distributed partnerships in the metaverse, thus enabling the first ever businesses as NFTs.
“We’ve already seen the tremendous value created from web2 metaverses such as Roblox and Minecraft when enabling user-generated content creation. MetaZone is well positioned to bring in and expand on those models, ushering in a new open creator economy with direct applicability to all virtual worlds of the future” says Tess Hau of Tess Ventures
CEO of MetaZone, William Gomez adds that “The application layer will be the driving force behind the trillion dollar metaverse, providing the framework for a vast array of immersive experiences and services that will transform exciting economic activity into a virtual economy.”
As MetaZone continues to expand into multiple metaverses and onboard more creators, the potential for the metaverse is limitless. The success of META creators thus far is just the beginning of what the future holds for this emerging digital economy.
About MetaZone
MetaZone’s mission is to harness the application layer of the metaverse to onboard a billion citizens. MetaZone is the first content distribution platform designed to facilitate the open digital economy. At its core, creators are enabled to submit Metaverse Enabled Tokenized Applications (METAs) that anyone can own, experience, and deploy in any virtual world. To learn more, visit metazone.io and join the community on Twitter @MetaZoneio