METAVERSE GROUP
Virtual real estate development and management firm.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
N/A | Acquisition | ||
| Total Funding | 000k | ||
Metaverse Group is a Web3 technology company specializing in virtual real-estate services and metaverse-based brand experiences. Initially operating as a vertically integrated virtual real estate firm, the company provided services such as property acquisition, development, and management in prominent blockchain-based metaverses like Decentraland, The Sandbox, and Somnium Space. Their business model includes facilitating the purchase and sale of virtual properties, developing virtual land, managing properties, and offering marketing and advertising services for businesses within the metaverse.
The company was founded in 2021 and quickly established itself as a key player in the NFT-based real estate sector. In October 2021, Tokens.com, a publicly traded company investing in crypto assets, acquired a 50% stake in Metaverse Group for approximately $1.68 million CAD, marking one of the largest equity investments in a metaverse real estate firm at the time. By June 2023, Tokens.com completed the full acquisition, integrating Metaverse Group to enhance its metaverse gaming infrastructure alongside its other subsidiary, Hulk Labs. This acquisition allows Tokens.com to combine its staking business capital with the growth potential of the metaverse.
Metaverse Group's services cater to brands looking to enter the Web3 environment and connect with new audiences, particularly GenZ. They develop customized, branded gaming experiences and help clients launch virtual stores and products, as demonstrated by their work with brands like DKNY, The UPS Store, and Psycho Bunny in platforms such as Roblox. The company leverages its own portfolio of over 750 parcels of virtual land to deliver these solutions. The leadership team includes experienced executives from the blockchain, capital markets, and technology sectors, such as Chairman Andrew Kiguel (founder of Tokens.com and Hut 8 Mining) and CEO Lorne Sugarman.
Keywords: virtual real estate, metaverse development, NFT properties, brand experiences, Web3 marketing, Decentraland, property management, blockchain technology, virtual land, digital assets
