Dapper, CoinFund Back ‘SPACE’ Metaverse Play With $7M Raise

SPACE Metaverse, a virtual world for arts and commerce, has raised $7 million from investors including Dapper Labs, CoinFund, Animoca Brands and more.

  • The funding will be used to build and join various metaverses into one parallel society and build the economic backbone of the metaverse, according to a press release.
  • Other notable investors included investment firm Hof Capital and Digital Currency Group (DCG), which also owns CoinDesk.
  • SPACE said it has now come out of stealth mode and launched an early access alpha version with over 10,000 users.
  • The metaverse is a space generated by the convergence of virtual worlds, augmented reality and internet services. The concept has fueled a rush of investment in recent months, sparked in part by Facebook’s rebrand to Meta.
  • The metaverse sector may represent a market opportunity of over $1 trillion in annual revenue, crypto investment giant and DCG subsidiary Grayscale, said in a report released November, without specifying the timeline.

Read more: Grayscale Says Metaverse Is a Trillion-Dollar Market Opportunity

What the SPACE interface looks like. (SPACE Metaverse)

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