Metahood, a metaverse-focused platform, raises $3 million

Metahood, a metaverse real estate platform, closed a $3 million seed round.

GM, it’s time to talk about digital land! 🏝️

We are thrilled to announce our official launch and a $3m raise. We have built the best place to trade land from @OthersideMeta, @TheSandboxGame, @decentraland & more.

Some more about us 👇 pic.twitter.com/zRxgqIJXVn

— Metahood 🏝 (@MetahoodXYZ) January 18, 2023

The funding round was led by venture firm 1confirmation with participation from Volt Capital, Flamingo DAO, Neon DAO, and angel investors including co-founder of the metaverse The Sandbox Sebastien Borget, co-founder of the virtual world Decentraland Jon Crane, and others.

Metahood is a more narrowly focused platform compared with traditional NFT marketplaces such as OpenSea, SuperRare, and Rarible. The startup offers detailed information about the parcel and the neighbourhood in which it sits, its neighbours and nearby points of interest.

“We really want to provide as much information and context as possible for buying [digital] land,” said Decrypt founder Gwendal Esno.

The platform supports The Sandbox, Decentraland, Otherside, from the creators of the NFT collection Bored Ape Yacht Club and Somnium Space. In the future the startup plans to expand the list of virtual worlds as they appear.

According to Decrypt, Esno is the sole founder of Metahood, leading a three-member team. He plans to use the funds to expand staff and timely upgrade the platform.

In 2022, Gucci, the Italian fashion house, and HSBC, Britain’s largest bank, bought virtual land in The Sandbox project.

Earlier, a parcel of land adjacent to American rapper Snoop Dogg in the metaverse was sold for 70 903 SAND ($458 038 at the time of the deal).

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