Social commerce platform SPACE Metaverse has successfully collected a strategic investment from Binance Labs. As the platform forges ahead with plans to bring offline commerce into the metaverse.
Amid SPACE’s ongoing efforts to cement itself as the next frontier for social commerce experiences in the metaverse, Binance Lab’s role in the latest funding round lends further credence to the segment’s alluring potential.
Bill Chin, Head of Binance Labs Fund, noted, “SPACE has impressive growth and product delivery trajectory. Also, the team can adapt the product quickly to the market. We believe SPACE is building one of the key pieces of metaverse infrastructure, bringing the offline commerce into the metaverse.”
The just-concluded capital injection will primarily be allocated towards continuous development of the marketplace alongside the social commerce features and ongoing partnership efforts. Already, SPACE has struck over 100 brand partnership deals focused on the art, music, and fashion industries. The partnerships include Zevi G, Arthur Art Gallery, KYLE GORDAN ARTIST, Soho Ski Club, DoinGud Art Gallery, and more.
These five partnerships alone have a total Instagram following of nearly 300k. At present, the product already features hyper-realistic graphics and builder tools with commerce functionality that delivers a 10-fold improvement in terms of ease of use and speed of rollout.
SPACE Founder and CEO Batis Samadian also highlight, “We welcome the latest investment from Binance Labs as proof that others also have faith in the exceptional potential exhibited by the metaverse. As we continue executing our ambitious roadmap, this fresh funding will accelerate our rollout momentum and reinforce our efforts to secure major brand partnerships that align with our vision of social commerce in the metaverse. The numbers are clear – the metaverse is full of unparalleled opportunities for early movers.”
For now, SPACE will further development efforts as it advances towards an upcoming token generation event (TGE). In addition to an Early Access Alpha version that granted 15,000 users admittance via its cross-platform web application in desktop, mobile, and WebXR formats, SPACE is now endeavoring to launch iOS and Oculus applications in 2022 alongside its ongoing brand partnership efforts.
Sitting at the intersection of gaming, virtual reality, and commerce, SPACE is pioneering the concept of social commerce in the metaverse. SPACE has a live beta where people can meet, stream and soon do commerce in VR. Founded in 2021, SPACE Metaverse offers dedicated virtual rooms for users and businesses to monetize their products and services by providing the connective glue between disconnected virtual spaces on different blockchains.
The platform’s toolkit is designed to help users construct their own virtual spaces with turnkey point-of-sale, delivering a trading hub that facilitates the purchases of art, music, fashion, culture, and more.
SPACE is backed by a consortium of investors, including Animoca Brands, Coinfund, Dapper Labs, Digital Currency Group, LD Capital, Binance Labs, Ghaf Investments, and HOF Capital.
Welcome to SPACE. Start a store, create a gallery, live stream to your community, or come to explore the first VR commerce platform.
Official Site – tryspace.com