Matrix World Raises $5.5M in Angel Round Funding, at $50M valuation

Published on: 26.02.2022

Matrix World has raised $5.5M in angel round funding led by Tess Ventures, Everest Ventures Group, Com2Us, and Y2Z Ventures.

17 companies participated in the angel round. These partnerships will help to expand the Matrix World network and the funding will be used to support the growth and development of the Matrix World project.

‘Angel Round’ refers to the first infusion of capital by outside investors during the early stages of a project or startup. Angel investors are usually well-established companies or individuals with investment experience. These investors also provide access to resources and a wealth of knowledge that can assist in the growth of the project.

What is Matrix World?

Matrix World is an exciting next-generation, multichain metaverse where users can create, connect, explore, and play like never before. The open world enables users to build immersive 3D applications on top of several different blockchains via Turing-complete programs and hopes to improve the metaverse experience for users and creators alike. The metaverse will also feature low-code creation tools to make the building accessible to users of all skill levels.

What has happened since launch?

Since the project’s launch in October 2021, there have been numerous developments, including:

Over $7M in secondary market trading volume.
Flow Blockchain, Dapper Labs, Phanta Bear, and many others announced plans to build in Matrix World.
Verified listings on OpenSea, BloctoBay, and Rarible.
Map feature upgrades, including the ability to add images and 3D models to map tiles.
Avatar and Land gameplay demos.

What’s happening next?

This year’s plans include:

Community and brand globalization
Version 1.0(Alpha) release “A Traversable World”
Matrix World Builder and Developer API & SDK release
Version 2.0 release “A Programmable World”

Who’s behind Matrix World?

The team behind Matrix World is a group of like-minded blockchain enthusiasts named Matrix Labs. They have established notable project partnerships, including Dapper Labs, Flow Blockchain, Ezek, Mask Network, ChainIDE, and more.

Matrix Labs was also the technical partner behind Phanta Bear, the wildly popular NFT project created by PHANTACi and Ezek. After the successful sellout launch, the project was dubbed ‘The BAYC of the east.’

Who are the seed round investors?

Tess Ventures — Tess Ventures was founded by Tess Hau, an investor and advisor to high-performing startups in Web 3.0, NFTs, Metaverse, GameFi, and DeFi. Investments include Animoca Brands, Salad, DeHorizon, and Metaverse AI. Tess was featured in Thrive Global’s list of “Top Women to Watch”.
Everest Ventures Group (EVG) -. Everest Ventures Group (EVG) is a venture studio focusing on the incubation and investment of Web 3 ventures. Since 2018, EVG has incubated Kikitrade, Aspen Digital, Vibra Africa, BlockTempo, Cassava, LiveArtX, and Adaverse and has invested in 30+ blockchain projects globally, including Animoca Brands, Flow / Dapper Labs, Kraken, Upbit, Lukka, The Sandbox, Immutable, Phanta Bears, and now Matrix World.
Com2uS — Established in 1998 as the first mobile game company in South Korea, Com2uS is making a new leap as a global comprehensive content and platform company incorporating blockchain and metaverse. Com2uS has proven its competitiveness in the global game industry through its hit IP’s in various genres, including Summoners War: Sky Arena, Baseball Superstars, MLB 9 Innings, and Ace Fishing: Wild Catch. Com2uS continues to set a global digital paradigm by establishing various Web 3.0 games based on a blockchain game platform, C2X, and an all-encompassing metaverse platform, ‘Com2Verse.’
Y2Z Ventures — Y2Z Ventures is focused on supporting young people and startups in building Metaverse infrastructure and Metaverse content. Their portfolio includes companies such as White Matrix, Tap Fantasy, RSS3, Mask Network, Blocto, Ovo, and many more.

Other investors:

Dapper Labs — The makers of NBA Top Shot and Flow Blockchain
Animoca Brands — A global leader in gamification and blockchain with a large portfolio of over 150 investments in NFT-related companies and decentralized projects
Sky9 Capital — A leading venture capital fund focusing on innovation themes around technology
Bonfire Ventures — Early-stage investors
SevenX Ventures — Blockchain venture group
Fenbushi Capital — Blockchain venture capital
Hash Global — Web 3.0 & Crypto Investor
ArkStream Capital — Product marketing group
SecondLive — Diverse 3D Virtual Space creators
Moon Capital — Founder VC in Web 3.0 & Metaverse
PANONY — Incubator, investor, and advisor in Web 3.0
LucidBlue — Blockchain, digital asset, and digital finance venture group
MatchA — Blockchain, Artificial Intelligence, and cloud-focused investment fund