Chinese startup raises more than $2 million in funding to become a major blockchain infrastructure platform

The ICO crowdfunding of a blockchain decentralized platform for smart assets and digital identity under the MIT license agreement ended on September 5, with the result far exceeding the planned target.

The Shanghai Metaverse project aimed to raise 10 million RMB, but it ended with 14.7 million RMB (over $2 million), which, as 8btc host Li Tao (miner) said, is a sign that the market is extremely hungry for projects.

Miner said via Skype:

“Metaverse ICO ended yesterday with nearly 15 million raised on our crowdfunding platform. Metaverse aims to build a website about smart assets. The vision of public blockchain reveals the future development, and I have strong confidence that the local Chinese team can achieve this goal. This crowdfunding has received far more attention and capital support than we expected, which also reflects the market's desire for high-quality projects.”

He also mentioned that 8btc is committed to assisting blockchain innovators and developers around the world who have excellent blockchain projects.

Metaverse was originally developed and maintained by the Metaverse team as a crypto asset management project, based on the idea that more people are relying on the Internet for their lives and work, and that they are beginning to spend more time communicating with each other online than offline. The number of these transactions is expected to grow as smart assets, avaters (digital identities), and Oracle intermediaries become mainstream.

Eric Gu, CEO of Metaverse, said that the funds raised in 31 days will be used to support the project, especially for their market goals.

Gu Ying also said in an interview with CoinTelegraph:

“It’s been an amazing journey for us. Now that the journey is over, it’s a new challenge for us. We need to communicate our plans, the Metaverse team will be very diverse. We will use the funds wisely and market the Metaverse to the world. In fact, I will be traveling to Europe next month to give a speech on Metaverse in London, UK (October 3rd).”

“We expect the Metaverse main website to be live by February next year, and we also hope to start developing three main applications based on Metaverse by then, two of which focus on digital assets and the other on digital identity. The funds will be used to build corresponding plans in conjunction with our business partners.”

“There are almost no public blockchain projects in China, but it is very necessary. Metaverse will become a major blockchain infrastructure platform in China and the world.”

He mentioned that the funds raised from the ICO will be used to strengthen the current team of 22 talents in technology, research and marketing from China, the UK and the US, and the team will soon expand to 40 to 50 people.

The Metaverse ICO broke the record for investment credit financing on coin crowdfunding websites.