Open metaverse building platform Mona raises US$14.6M in Series A

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Open metaverse building platform Mona raises US$14.6M in Series A

Metaverse building platform Mona has closed an oversubscribed US$14.6M Series A capital raise, co-led by Protocol Labs, Archetype and Collab+Currency.

Using Ethereum of Polygon blockchain, creators can mint their own interactive metaverses. The platform claims that is the first network of its kind allowing creators to build, mint and sell metaverses as NFTs

According to Justin Melillo, CEO and co-founder of Mona, “Our mission at Mona is to make the metaverse a social network where creators can thrive. A place to build worlds, not walls.

“With the closing of this round, we will continue to grow our global, vibrant community of builders as we onboard thousands of new creators to the open metaverse and Web3. The metaverse doesn’t have to belong to big tech companies - it can, and will, be a place for everyone.”

Mona has more than 3,000 users since opening up to creators in October. It allows for full custom avatar system integrations, enabling up to 100 concurrent users to reside in space at any given time.

While the unique 3D environments, or “spaces” will have the best user experience when viewed inside Mona, the company allows users to mint the necessary files to move the spaces elsewhere, which it claims is critical to developing an open metaverse.

In a LinkedIn post announcing the raise, the Mona page thanked the creators who have worked with the business since day one.

“We would not be here without you and your stellar world building. We’re grateful to be building the future of the internet alongside you,” the post said.

Melillo also commented on the raise on the social media platform stating, “Deeply grateful for the support of our newest partners as we build the open metaverse with our growing community of 3D artists, game designers, architects, developers, and builders.”

Other key investors in the round include Placeholder, Rogue Capital, Synergis, a_capital, Palm Tree Crew Crypto and Venture Reality Fund.

© Digital Nation

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