Metagood, a Web3 company that employs non-fungible tokens to allow communities to achieve social good, has raised $5 million in pre-seed funding, the company said today.
The startup is responsible for OnChainMoney NFTs, a collection of crypto asset artwork that can be used as profile images in the same vein as Bored App Yacht Club and Cryptopunks. Built on blockchain technology, NFTs can be owned, bought, and sold, and they can be used for social good related fundraising and community building.
“We launched the company on the concept of using NFTs as an expression where everyone does good things for each other and the good stuff is tokenized and exchangeable,” Bill Tai, co-founder and chairman of Metagood, said to TechCrunch.
Animoca Brands, Liquid 2 Ventures, Mark Yusko, founder and CEO of Morgan Creek Capital Management, and Freddie Andrews, investment manager at Virgin Group, are among the investors in this round.
In the past, prominent investors have included the actor Owen Wilson, the co-founder of Axie Infinity Jeffrey Zierlin, the co-founder of Twitch Kevin Lin, the creator of Litecoin Charlie Lee, the founder of Second Life Philip Rosedale, and the founder of Crunchyroll Kun Gao.
“Metagood’s mission and vision, which embody the values of respect, integrity, sustainability and experimentation, are critical to building a positive future for Web3, and we look forward to supporting our mission to make this future more accessible.” Proud of,” said Yat Siu, Animoca Brands co-founder and president.
In less than a year, the organization has raised over 2,000 ETH, or nearly $2.5 million at current prices. The firm utilizes its NFT collection and community to help other organizations raise funding for social impact and humanitarian causes.
Included among the projects in which Metagood has participated is OCM Earth, a collection of 1,000 artworks sold on March 4 for 0.1 ETH, or approximately $125, with the proceeds going to humanitarian help for people affected by the present situation in Ukraine. In November, the organization collaborated with Future Brilliance to assist in the retrieval of the Afghan Girl.
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