VR startup Metamall raises $4.6 million from token sales

Metamall, which provides virtual reality (VR) experience on the blockchain for users to build, explore, and trade in their own virtual mall, recently closed a $4.6 million round through token sales.

The round saw participation from 316VC, CSPDAO, MarsVC, WLI Capital, BullPerks, HVS Ventures, CCK ventures and others. Metamall has sold $1 million worth of virtual land.

Selling digital lands has become an important aspect of build different virtual worlds that would one day be combined into a single 'metaverse'. Other popular online worlds are Decentraland and Sandbox.


Metamall was founded in 2021 by Serge Gianchandani, who has 12 patents on 3D and VR imagery, the company said in a statement. It will use the funds to scale its tech and marketing teams and work with tech platforms and designers to build their retail and gaming experiences.

Gianchandani said in a statement, “We see generations of users spending quality time on the metaverse for gaming, social networking as well as building wealth. Metamall is a unique convergence of metaverse, NFT and crypto that enables enriching user experience as well as giving brands, individuals and experience owners to connect with their audience. We are very excited as this journey enters its next phase.”

Built on the Solana Blockchain network, Metamall features native token MALL for users to buy virtual real estate and earn money by leasing, staking, advertising and developing it.

The MetaMall seeks to convert everyday tasks such as shopping, socialising and business interactions into an immersive experience powered by VR technology. It features separate zones for commercial properties to set up shops, showrooms and business interactions, along with lifestyle experiences such as casinos, clubs, VR games and NFT art galleries, it said.