V3V Ventures to Acquire Metaverse.sg NFT-Sorting Dashboard in $3M Deal
In a major development reported by crypto news hub Metaverse.sg, Singapore-based V3V Ventures has finalized an acquisition deal worth $3,000,000 for the well-established platform. Metaverse.sg stands as a top-tier platform in the NFT realm, offering users a user-friendly dashboard for navigating various NFT projects. It has gained significant traction throughout Singapore and Asia, thanks to its all-inclusive insights from industry leaders and its delivery of breaking news and research in the field.
One notable aspect of this acquisition is Metaverse.sg’s ownership of the global trademark for “Metaverse,” which adds incredible value to the deal. The timing of the procurement aligns with findings from research firm NFT 18, which revealed the resilience of the NFT market despite encountering enormous challenges in 2023. Despite A noteworthy $1 billion loss and a 62% decrease in trading volume down to $10 billion, the market witnessed only a modest 10% reduction in active wallets, indicating a promising path toward recovery.
In 2023, amidst negative sentiments reflected in a Rolling Stone article declaring “NFTs are dead,” the market experienced a phase of correction, which resulted in major losses. However, the year’s final quarter brought about a resurgence, fueled partly by the growing adoption of sidechains and blockchains beyond Ethereum, such as Polygon, Solana, and Bitcoin.
This diversification of blockchain platforms has opened up new avenues for NFT projects, leading to development across multiple chains. Particularly, interest in NFTs has shifted from being primarily Western-centric to gaining major traction in Asia, the Middle East, and Southeast Asia. This shift has been propelled by a considerable injection of $100 million into Asia’s blockchain gaming sector and significant events such as the FinTech Festival Asia.
Metaverse.sg boasts a large following of more than 30,000 users on platforms like DeBank, a social media platform specifically tailored for crypto enthusiasts. With a total volume of confirmed funds of at least half a billion dollars or more, DeBank serves as a vital space for crypto-centric discussions and networking. The social media platform allows its users to connect their wallets, providing respectable transparency regarding their crypto holdings. In this way, DeBank, which has been likened to the Twitter of the crypto world, is able to facilitate meaningful interactions within the crypto community.
V3V Ventures’ purchase of Metaverse.sg not only underscores the incredible value of the platform but also signals the company’s strategic extension into the Asian market. With plans to introduce innovative products and services, V3V Ventures aims to leverage the expertise of the existing Metaverse.sg team while exploring collaborations with other projects under its expanding umbrella. CEO of Metaverse.sg, Mr. Buzz, expressed unparalleled enthusiasm about the move. In a statement that reads, “I am excited to see the company move forward on a stronger footing as we continue to expand our news, research, and data offerings,” The CEO has highlighted the company’s commitment to enhancing its services as an embarks on this new, expansive chapter.
