VerseHub, an innovative MetaVerse startup made up of Vietnamese co-founders, has just secured US$1 million from an angel investor to develop their ongoing project without needing to go through a formal funding round.
The Metaverse movement is becoming a massive trend after Facebook changed its company name to Meta. This event has resulted in a significant number of projects receiving huge investments with the ambition of forming a new virtual universe, setting a worldwide trend.
Therefore, it is no surprise that GameFi, leading a group of anonymous investors, decided to silently invest US$1 million into VerseHub Ltd as soon as this startup was formed by a few Vietnamese founders from both UK and Vietnam. The company is fascinating to investors since the founders have hands-on experience in making Metaverse products even before this trend spreads.
Canh Ho, co-founder and CTO of VerseHub, explains that he first wanted to start the company in the UK to make it convenient for their work, but will soon expand to Vietnam to contribute to spreading of the entrepreneurial spirit to the country’s young generation. “The team incubated the project 6 months ago and rejected many investment invitations, for cooperating with other Vietnamese partners in the industry, with the desire to contribute to the development of blockchain technology in our home country,” said Canh, without disclosing much about the product.
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The founders of VerseHub share the same vision of not focusing on short term profit but rather aim to build a sustainable product. With this mission in mind, the team has put a huge amount of work into their project throughout the year, prior to publicizing and securing an investment proposal and even before calling for capital.
The announcement of Facebook rebranding itself as Meta possibly led to many related projects attracting multi-millions of dollars in investment overnight. Remarkably among those is a metaverse project named The Sandbox of Animoca Brands that has just received US$93 million in a funding round led by SoftBank, the famous Japanese investment fund.
Along with blockchain and the Metaverse, entertainment projects that offer both the experience and value proposition ingrained in the DNA of the Metaverse are well poised to be the leading companies of tomorrow.