Singapore-based V3V Ventures deal with Metaverse.sg valued at $3M

Image courtesy of Mr. Buzz

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According to the popular crypto news site Metaverse.sg, V3V Ventures, based out of Singapore, is now set to acquire the project in a major multi-million dollar deal. Metaverse.sg is a significant platform designed with a convenient dashboard for sorting NFT projects. Additionally, the dashboard includes insights from the leaders in the industry and breaking news and research on the topic. In Singapore and Asia, the resource has grown in popularity over the last several years.

Metaverse.sg reportedly owns the “Metaverse” global trademark. This makes the purchase of the platform for a price of $3 million particularly reasonable. NFT 18, an NFT research firm, conducted an in-depth study revealing the robust resilience of the NFT market throughout 2023. Even though the study confirmed major losses of approximately $1 billion and a 62% drop in volume—down to $10 billion, active wallets reportedly fell by a mere 10%, which stands to show substantial signs of recovery.

In 2023, a Rolling Stone article was released claiming that “NFTs are dead.” The negative article coincided with a “market correction” phase that saw NFT trading bear a massive loss of more than $1 billion. The final quarter of 2023, however, brought much promise to the horizon. During the last quarter, optimism was saved by the proliferation of sidechains and blockchains other than Ethereum. These other blockchains include Polygon, Solana, and Bitcoin.

With numerous opportunities offered by each network, several NFT projects have now begun to expand across multiple chains. Global NFT interest, which was predominantly relegated to the West, has now shifted to Asia, Southeast Asia, and the Middle East. The massive shift in interest has been supported by several Web3 events such as the FinTech Festival Asia, as well as, more considerably, a move that spurred these events—a $100 million boost in Asia’s blockchain gaming.

Claiming more than 30,000 followers, Metaverse SG also has an incredibly prolific influencer profile on DeBank. The total volume of confirmed funds from DeBank has reached the height of at least half a billion dollars. In the cryptocurrency space, DeBank can be thought of as an analog Twitter. It is essentially a social media platform for crypto users only. However, the platform also allows each user to connect their wallet so that every other person on the social network can view each other’s balances. With DeBank, users can clearly understand how much crypto another user holds. Of course, there are many other features, which will be disclosed at another time.

V3V Ventures purchase of Metaverse.sg is valued at $3 million and the company plans to develop thrilling new products as they expand into Asia. According to verified information on the deal, the entire team will remain on the project, carefully working to develop the services. The current team also holds the ability to transfer efforts to other related V3V Ventures projects if needed. CEO of Metaverse.sg, Mr. Buzz, stated, “I am excited to see the company move forward on a stronger footing as we continue to expand our news, research, and data offerings.”