MetaTrace, an innovative GameFi project, has announced its acquisition of the RAK DAO license within the UAE's free economic zone. Aiming for further development, the project has opened its third round of investment. The team seeks to raise $25 million to fuel global expansion and strengthen its market position worldwide.
The MetaTrace project, launched in May 2022, immediately garnered attention with its NFT collection, raising an impressive $500,000. These funds were allocated to the project's development, including marketing efforts, assembling a professional team, and creating an innovative product. By August 2022, a successful MVP version of the product was introduced, based on the geolocation platform MetaFora, powered by Polygon blockchain technology.
The second seed investment phase brought the MetaTrace project $5,150,000, thanks to generous support from Alexey, the project's angel investor. This phase marked the beginning of developing an extensive ecosystem of blockchain products and assembling a team of over 50 professionals. In September 2023, the MetaTrace TRC token successfully debuted on the exchange, showing a 400% increase and confidently maintaining leading positions in the market.
MetaTrace is currently launching a Series A investment round totaling $25 million. The aim of this phase is to enter the global market, expand operations, implement marketing strategies across all continents, and enter new exchange platforms. The team is confident that the investment will be key to achieving ambitious goals and will strengthen MetaTrace's position as a leader in the GameFi industry.
MetaTrace has been given a current valuation by the Mezen consulting group of over $296 million, which is projected to rise to up to $700 million over the next year. While the valuation is high for a game that has not fully launched, in this particular case, there is a distinct advantage in the project already having a substantial user base and a vibrant ecosystem.
