The power of technology is leading the world toward a digital revolution – and many want a piece of the pie. Singapore-based company, V3V Ventures, is set to acquire Metaverse.sg, a crypto news and guide website which is known for being a large dashboard for NFT projects. The purchase is valued at $3 million. This purchase price is especially reasonable considering that Metaverse.sg owns the “Metaverse” trademark worldwide.
As a popular resource in Asia, specifically Singapore, Metaverse.sg offers insights from industry leaders, groundbreaking news, and developing research on the topic. But the website is also a convenient hub for sorting NFT projects. This stands for “non-fungible tokens,” and refers to virtual items that are designed to be unique and irreplaceable.
Despite the NFT market’s challenges in early 2023, which coincided with a “market correction” phase and a negative Rolling Stone article claiming that “NFTs are dead,” an in-depth study by an NFT research firm proved the NFT market’s resilience. While the start of 2023 showed a 62% drop in volume to $10 billion, and losses of nearly $1 billion, active wallets only fell by 10%. This may indicate significant signs of recovery. In the last quarter of the year, the market showed promising signs with the proliferation of sidechains and other blockchains like Ethereum, Polygon, Solana, and Bitcoin.
In this new digital age, where digital goods and the means of purchasing them have increased in popularity, many NFT projects are now expanding across multiple chains. Aiming to take advantage of the various opportunities offered by other networks, NFT projects are generating global interest. This has shifted remarkably from the West to Asia and Southeast Asia, as well as the Middle East. This shift has been supported by a $100 million boost in Asia’s blockchain gaming, as well as numerous Web3 events. These were started by tech futurists who believe in a new, decentralized web that is built on blockchains and include events such as the FinTech Festival Asia.
With a strong influence profile on Debank, an analog Twitter in the crypto space, Metaverse.sg has certainly proven its worth. Metaverse.sg has accumulated over 30k followers on the platform and a total volume of confirmed funds that reaches over half a billion dollars. Debank’s users connect their wallets to their accounts, making everyone’s balances visible to other people on this social network. This means users can easily see how much digital currency other users on the platform hold.
This purchase comes with V3V Ventures’ plans to develop new and exciting products and further expansion across Asia. Mr. Buzz, the CEO of Metaverse.sg, is excited to see the company move forward with the entire team, who will remain on the project and continue to develop the services, as well as have the possibility to transfer their efforts to other related V3V Ventures projects. In this game-changing era of technology, he believes the purchase will foster growth on a stronger footing, continuing Metaverse.sg’s development of news, research, and data offerings.