SPACE raises $7M to form economic backbone of metaverse

By: Daniela Kirova
Daniela Kirova
Daniela was born in Bulgaria, grew up in Chicago, and then moved to Michigan to attend the University of… read more.
on Dec 22, 2021
  • The SPACE project has launched with an Early Access Alpha version featuring over 10,000 users
  • SPACE’s goal is to be the virtual world building new frontier of social commerce experiences in the metaverse
  • Creating a vibrant user-owned economy through unifying knowledge and fair distribution of rewards

SPACE Metaverse raised $7 million in a funding round supported by Coinfund, Dapper Labs, Animoca Brands, Digital Currency Group, Hof Capital and others to link various metaverses into a parallel realm, Invezz learned from a press release.

100+ lucrative partnerships in art, fashion, and music

The SPACE project has launched with an Early Access Alpha version featuring over 10,000 users. The initial spaces encompass what’s immediately available in the current metaverses, which includes art, fashion, and music. Anyone can join these virtual spaces and interact. SPACE secured more than 100 partnerships with leading entities in the art, fashion, and music industries.

The new frontier of social commerce

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SPACE’s goal is to be the virtual world creating the new frontier of social commerce experiences in the metaverse. It aims to develop the easiest to access, yet fully immersive metaverse experience for users and brands by creating a vibrant user-owned economy through unifying knowledge, fair distribution of rewards, and common effort.

Batis Samadian, Founder of SPACE, commented:

As the metaverse continues to gain mass adoption and becomes a place a where a lot of people meet up to socialize, a natural evolution is commerce, which is what Space is focused on. Users will want to be able to view shows, buy items, sell items, and engage with digital goods within the metaverse. Space is building the Shopify for the metaverse to enable creators to sell their digital items in a turn-key fashion and allowing users to purchase it.

Vanessa Grellet from Coinfund said:

We’re excited to be a part of SPACE and have them be the leader in building the commerce virtual world. The race is on for the few players who will bring future of events and commerce to Web 3, and we are sure SPACE will be one of them.

Sandeep Nailwal of Polygon (MATIC/USD) added:

Glad to see Polygon Studios backing projects like Space. The race is on for the few players who will bring future of work and commerce to web3, and SPACE team is one of the most promising ones to be leader in building commerce virtual world.

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