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MetaMundo has announced it has raised over $2.7 million in seed funding to build a marketplace for 3D nonfungible tokens (NFTs).
Animoca Brands, an NFT game firm and investment company in Hong Kong, led the round. Other investors included 19 other NFT, cryptocurrency, and metaverse focused companies and individuals. MetaMundo will use the funding to launch its 3D NFT marketplace in 2022. It also plans to put funding towards its suite of 3D model conversion tools. These tools are meant to ensure compatibility of 3D assets between different metaverse worlds.
MetaMundo is built on the Polygon framework. Part of the function of the Polygon framework is to connect Ethereum and other blockchains into a comprehensive multi-chain system. Polygon set up Polygon Studios to host a number of metaverse platforms, such as Decentralized and Somnium Space.
“One of the problems for metaverse users today is that they can’t easily use their 3D assets across different virtual environments. In part, this is due to the disparity in supported format and attributes like file type, size and mesh count,” said Finn Hansen, one of the co-founders of MetaMundo, in a statement. “We’re focused on solving this lack of interoperability by automating the conversion process to mint 3D assets that are metaverse-ready from day one.”
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The general idea is that a customer can purchase a 3D model from the MetaMundo marketplace; say, a chair. The specific chair they purchased is an NFT, which means they have sole ownership of it. They then sign in to Decentralized where they can use that chair in the world. If they decide to play Somnium Space they can utilize the MetaMundo conversion tool to make the chair usable in that engine.
A single marketplace offering in-game items shared between multiple games could be a huge boon for content creators.
“One of the biggest challenges facing the development of the metaverse is the creation of 3D content,” said Mark Studholme, the other MetaMundo cofounder, in a statement. “By enabling an existing network of architects and designers, we can provide high-quality content for metaverse builders.”
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