Bithumb raises $7.4 mn in funding from big companies for metaverse platform

2022.03.29 12:17:07 | 2022.03.29 12:17:27

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Bithumb Meta, a metaverse subsidiary of crypto exchange Bithumb, has raised 9 billion won ($7.37 million) in funding from investment units of major Korean conglomerates with aspirations to leverage on metaverse and blockchain technologies.

Bithumb Meta received 9 billion won from Dreamus Company under SK Square, LG CNS and CJ OliveNetworks for a strategic partnership, Bithumb said on Monday. The crypto exchange founded the metaverse-focused subsidiary with an initial capital of 17 billion won in February.

Bithumb Meta engages in development of social metaverse platform, and crypto system and software design, development and sale with an aim to service blockchain content worldwide in cooperation with global companies.

The company partnered with content developer and operator Unity on Mar. 14, who provided its technical support to establish the metaverse platform of virtual reality, online video game Horizon Worlds developed and published by Meta Platforms.

In partnership with Unity, Bithumb Meta also is expected to focus on development of similar metaverse, NFT platform.

By Choi Keun-do, Woo Soo-min and Lee Ha-yeon

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