Solana-based NFT Metaverse Project Portal Raises $5 Million in Seed Funding

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Solana-based NFT Metaverse Project Portal Raises $5 Million in Seed Funding
Solana-based NFT Metaverse Project Portal Raises $5 Million in Seed Funding

Portals is a browser-based metaverse project that allows users to customize personal spaces based on “urban” digital environments and to create and visualize immersive social spaces.

Portal Plans to Build it Metaverse Vision Using Solana Blockchain

According to a report on February 11, Portals, a Solana-based NFT Metaverse project that has raised $5 million in seed funding. It plans to use the Solana blockchain to build on its vision for Metaverse.

The round was led by Greylock, with participation from Multicoin Capital, Solana Ventures, Alameda Research, Sino Global Capital, and Mantis, a venture capital firm founded by American EDM duo The Chainsmokers. Twitch co-founder Justin Khan also invested in the round. Kan is also the co-founder of Fractal, a newly launched NFT marketplace.

Sarah Guo, Partner at Greylock stated that they believe that Portals is the most promising browser-based metaverse platform. It’s a social space where you can explore, invest, create your own stuff, and meet others. They were blown away by the speed, quality and vision of the team. As the community continues to grow, they create a fun, dense virtual city that people actually want to visit.

The Portals metaverse is already represented by major cryptocurrency exchanges such as FTX and Binance, all of which have set up their own Metaverse headquarters in the region where the project is located. NFT audio platform Audius, Solana-based DeFi protocol Raydium, and NFT marketplace Magic Eden also appeared in Portal’s Metaverse space.

“We’re building the Metaverse to be browser-based to make it as accessible as possible. With native voice chat and simple room customization tools, we’re lowering the bar for experiencing the Metaverse. Make room for art galleries, podcast Studios, comedy clubs, underwater pirate bars, arcades, poker rooms, movie theatres and more.” shares Adam Gomez, co-founder of Portals.

According to Portals, it will use the funding to expand its development team and accelerate its Metaverse initiatives to bring more features and enhancements to its developer community. Portals is in the process of unveiling its downtown expansion overlooking the city. The Metaverse space will also introduce citizen cards branded as NFTs, giving users access to small to medium-sized, off-grid Portals Metaverse pods, but with limited customization options, as a more private personal space to view NFTs and socialize.