MetaverseGo Announces a $4.2 Million Seed Funding Round

MetaverseGo Initially Valued At $40M

The corporation claims that MetaverseGo was initially valued at $40 million. The money will go towards hiring strategically, establishing agreements with telecommunications companies, and developing software. According to a DApp Radar analysis, gaming DApps accounted for 52% of all blockchain activity in the second quarter of 2022. But just about a million individuals play blockchain-based games daily, compared to the hundreds of millions who play mobile games daily.

Blockchain-Based Games

Getting a wallet, buying cryptocurrency, and buying in-game products might be difficult for new users. However, Ash Mandhyan, Jake San Diego, and JC Velasquez, the co-founders of MetaverseGo, think their technology provides a solution.

The British Virgin Islands-based company began in March 2022, with most of its personnel working out of a Play-to-Earn hotspot, The Philippines. It is scheduled for release within the upcoming month.

With simply a cell phone number, users may register and begin playing games like Axie Infinity and Cyball. After that, it creates the players' virtual wallets and gives them access to online gaming guilds like YGG's digital assets in exchange for a cut of any in-game profits.

Mandhyan, who has previously worked for Facebook and TikTok creator Bytedance, compares the significance of getting Web3 onboarding right to learning to drive a car and stresses the need not to make the process too difficult for those who are new to the blockchain. Players will have access to any earnings from the games in the form of MetaverseGo credits, which they can use to buy data and power bills. Players will be able to transfer payments to their wallets, according to Mandhyan.