Solana-based NFT Metaverse Project Portals Raises $5 Million In Seed Funding

Portals, an NFT metaverse project based in Solana, has raised $5M in seed funding. The goal is to build out its vision using the Solana blockchain.

Greylock led the investment round, which also included participation from Multicoin Capital and Solana Ventures. Also, Sino Global Capital, Alameda Research and Sino Global Capital were involved. Mantis was a venture capital company founded by American EDM duo The Chainsmokers. Justin Kan, Twitch’s co-founder, also participated in the round. Kan was also co-founder and CEO of Fractal NFT Marketplace, which is just launched.

Portals is the most promising browser-based metaverse platform, according to our view. Portals is a social platform that you can explore, invest, create your own, and share with others. The team’s speed, quality, and vision have been amazing to us. They’re creating a vibrant virtual community that people want to visit. Sarah Guo, Greylock partner, shares her excitement.

Portals is a browser-based, metaverse project that allows users to create and visualize their own personal spaces. It’s based on a digital “city”, which allows them to design their virtual worlds. Major crypto exchanges like Binance and FTX already have presence in the Portals metaverse. Portal’s metaverse space also includes the presence of NFT audio platform Audius and Raydium-based DeFi protocol Raydium.

“We’re building the metaverse in browser-first mode to make it as accessible as possible. We’re making it easier to explore the metaverse with native voice chat and simple tools to customize spaces. Portals co-founder Adam Gomez shares that people are already creating space for town halls.

Portals claims it will use the funds to grow its developer team, accelerate its metaverse initiatives and provide more functionality and better tools for its creator community. Portals will soon launch Downtown expansion. This is a planned city center. Citizen cards minted in NFTs will be introduced to the metaverse space. These will allow users to access small, off-grid portals but have limited customization options. This will make it a more personal, intimate space for NFTs to be displayed and to socialize.

Disclaimer: This article is intended for informational purposes only. This article is not intended to be used for legal, tax, investment or financial advice.

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