Polish startup Metaverse Planetary secures €2.8M from nChain

Krakow-based startup Metaverse Planetary has secured €2.8 million (PLN 10 million) to develop its social media app set completely in the metaverse. The British company nChain provided the funds, MamStartup reports.

• Founded by Jakub and Adam Kobosko, Metaverse Planetary offers a modern mobile app that combines a metaverse platform with social networking layer. Initially, the platform started out as a party app for fun, but during the pandemic it gained over 100,000 users.
• The company claims that in six months it managed to increase its value tenfold, from about €1.1 million (PLN 5 million) to €11 million (PLN 50 million). The increase is mainly thanks to the capital injection from nChain.
• nChain is a company operating on the market since 2015. It is headed by the Scandinavian billionaire Christen Ager-Hansen and has hundreds of projects in its portfolio. Apart from the financial injection, the startup also receives the technological background from nChain, which has thousands of patents and hundreds of millions in solutions value.

“This is an exciting addition to our developing Web3 ecosystem. We are bridging the Web2 and Web3 worlds to create seamless and immersive experiences for both users and brands. Together Planetary and nChain are accelerating the shift to play2earn economies, which is what Web3 is all about.”

Christen-Ager Hanssen, CEO of nChain Group, comments.

• The fresh funds will allow Metaverse Planetary to reach millions of users and thus compete with the largest players on the market.