UAE-based metaverse startup MetaFi bags $3 million

MetaFi, a UAE-based metaverse startup has raised $3 million in its new funding round to support its product development and improve its user trading experience.

• The fund will be deployed to build its first product, the Trading Metaverse, to ensure a new kind of trading experience governed by its users, the web3-focused startup claims.
• The startup has up to 90,000 waitlisted users as it looks to launch later in the year. Founded earlier this year by Matt Danilaitis, MetaFi provides a full stack of services related to decentralized finance (DeFi) and non-fungible token (NFT) across the metaverse, including web3, GameFi, and SocialFi.
• The startup is reimagining traders' experiences by making them fun, engaging, and social, and aggregating major decentralized protocols with deep liquidity, in a way that non-crypto persons can engage.
• DoublePeak Group, Maven Capital, OKX Blockdream Ventures, Megala Ventures, Magnus Capital, Legion Ventures, SL2 Capital, X21 Digital, Good Games Guild, MetaGaming Guild, Mintable Go! Fund and Athena Ventures invested in the funding round.