Apr 26 2021

Mind Fund Incubates Metraverse For Breakthrough

The early-stage investor in Animoca Brands, The Sandbox and Hedera Hashgraph has been working with the company, formerly known as Coinerz Group, to create a new concept that’s destined to take the Open Metaverse to a higher level.

Singapore, Apr 26 2021

Metraverse Pte. Ltd, the company formerly known as Coinerz Group, would like to officially announce the birth of a new open Metaverse that has been created with the support of MIND FUND'S “Breakthrough" incubation program which combined both capital and mentorship. MIND FUND are the early-stage investors in prolific Web3 success stories including ANIMOCA BRANDS, THE SANDBOX, and HEDERA HASHGRAPH.

The company, who also invested in BYTEDANCE - owners of TIKTOK - have been working with Metraverse CEO, James Malach, for several months already, to incubate their business model, and provide the necessary support and guidence that will allow them to take their place among the upper echelons of the Web3 world. The name Metraverse, or 'Me Traverse' (I Travel) is a play on words that perfectly describes the augmented reality open Metaverse that they are working on.

"We have been looking for a Metaverse project that would truly compliment THE SANDBOX and the 'open Metaverse' philosophy that we have shared with our partner ANIMOCA BRANDS since 2018 when we first began investing in their vision for NFT based digital property rights that must underpin the Open Metaverse so that players can move stuff in between Metaverses. We believe that we have found that special project in The Metraverse. We are so excited to have the opportunity to back James, Alex, and their amazing team, because what they're working on takes everything quite literally to the next level! MIND FUND has not been this excited about the future of a company since we invested in the seed round of THE SANDBOX, back in 2019. We watched them grow beyond all expectations, and we believe that the amazing imaginary worlds of the Metraverse will complement the open Metaverse perfectly. Together, we're all gonna make it."

Metraverse founder and CEO, James Malach, commented "Since January, we've doubled the size of our full-time team, and we're now being closely watched by some of the industry's major players. Thanks to the help and guidance of Mind Fund, we're well prepared for what's to come. The future will be quite a ride and getting there will be half the fun!"