Animoca Brands and others helped Metagood raise $5 million in pre-seed financing.
The web3 startup is promoting a culture of goodwill on the blockchain by utilizing a DAO-driven fund.
Several angel investors included Morgan Creek Capital founder and CEO Mark Yusko and Virgin Group investment manager Freddie Andrewes.
Metagood has raised $5 million in venture capital from Animoca Brands, Liquid 2 Ventures, ACTAI Ventures, and Sangha Capital.
Individual investors that took part in the financing included Morgan Creek Capital founder and CEO Mark Yusko, Virgin Group investment manager Freddie Andrewes, Orange Fund general partner Don Ho, and early Facebook executive and Stoked Capital founder Net Jacobsson, among others.
Randi Zuckerberg, twitch co-founder Kevin Lin, Axie Infinity co-founder Jeffrey (Jiho) Zirlin, The Sandbox's Sebastian Borget, and Algorand Foundation CEO Staci Warden, among others, have previously invested in Metagood.
According to NFTGo.io data, the NFT-focused startup is well-known for its OnChainMonkey NFT collection, which has a total volume of 12.7k ($36.6 million).
Danny Young, CEO, Amanda Terry, COO, and Chairman Bill Tai lead the Metagood team. Through web3, the organization hopes to foster positive social effects by sponsoring projects that deliver "good karma" to the world.
Metagood stated that the funding will be used to grow its team and improve OnChainMonkey's community and tools.
"We've been profitable with our pre-seed, but we want to expand." "We have roughly 3,000 ETH left over from our public mint and other profits," Terry explained.
Tai, on the other hand, lauded the company's achievements through the OnChainMonkey NFT initiative, which he claims has helped establish a strong community.
"In just one year, our DAO has empowered so many builders while raising 2000 ETH. Our investors recognize Web3's potential to affect change and are backing it. This investment by such well-known, forward-thinking individuals will encourage our communities to get involved and help us achieve even more good," Tai added.
Yat Siu, co-founder, and chairman of Animoca Brands expressed his excitement about adding Metagood to the company's increasing portfolio of investments.
"We are delighted to support Metagood's objective of making this future more accessible," he stated.
Metagood's aim, according to its website, is to have a positive social impact on the globe by allowing communities to "be catalysts for constructive collective action."
"We want the rubber to meet the road between causes and contributing," Tai told TechCrunch, adding that his company "can address problems that giant centralized charity organizations with a lot of authority couldn't do."
Tai cited the repair of a skate park in Rio de Janeiro, Brazil, as one of Metagood's micro-grant initiatives, which "may be difficult to handle with larger organizations."
The above article is selected by CoolDeeds.org. The information and the assets belong to their respective owners (original link).
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