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Dapper, CoinFund Back ‘SPACE’ Metaverse Play With $7M Raise

The project wants to become “the economic backbone of the metaverse.”

Updated May 11, 2023, 7:17 p.m. Published Dec 22, 2021, 3:33 p.m.

SPACE, a virtual world for arts and commerce, has raised $7 million from Dapper Labs, CoinFund, Animoca Brands and other investors.

SPACE will use the funding to build and join various metaverses into one parallel society and “build the economic backbone of the metaverse,” according to a press release.
Other notable investors included investment firm Hof Capital and Digital Currency Group (DCG), which also owns CoinDesk.
SPACE said it has now come out of stealth mode and launched an early access alpha version with over 10,000 users.
The metaverse is a space generated by the convergence of virtual worlds, augmented reality and internet services. The concept has fueled a rush of investment in recent months, sparked in part by Facebook’s rebrand to “Meta.”
The metaverse sector may represent a market opportunity of over $1 trillion in annual revenue, crypto investment giant and DCG subsidiary Grayscale said in a report released in November, without specifying the timeline.

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What the SPACE interface looks like. (SPACE)

CoinFund Metaverse Dapper Labs Funding

Tanzeel Akhtar

Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.