- Gamefi project MetaTrace has received a RAK DAO license to operate in the UAE’s free economic zone.
- The platform’s valuation is close to $300 million, according to Mezen.
- The team plans to raise $25 million in a new round of investment.
GameFi project MetaTrace has been granted a RAK DAO license within the UAE’s free economic zone. In addition, the team announced the opening of a third round of investment for further development. This was reported to Incrypted by representatives of the project.
MetaTrace was launched in May 2022. It attracted the attention of the community with a collection of non-replaceable tokens (NFT), which brought $500,000 to the platform. The team invested in further development: marketing, finding new specialists and creating a GameFi product.
In August 2022, the developers presented an MVP version based on Polygon blockchain and MetaFora geolocation platform. Today, MetaTrace is a Play-to-Earn game whose characters travel around a real world map and collect artifacts: boxes, cars, eggs with pets, and more. The game is scheduled for an open release in app stores in March 2024.
The second stage of investment brought $5.15 million thanks to the support of Alexey Voyutsky, the project’s angel investor. This phase was the beginning of the development of a comprehensive blockchain product ecosystem and the expansion of the team to over 50 employees.
In September 2023, the MetaTrace token (TRC) was listed on centralized exchanges. At the moment, its price rose 400%, according to CoinMarketCap.
In December 2023, MetaTrace received a current valuation of $296 million from the Mezen consulting group, which experts predict will grow to $700 million during 2024.
For further development, MetaTrace is launching a $25 million investment round A. The goal of this stage is to enter the global market, implement a marketing strategy on all continents and list on new exchanges.
“The investment will be key to achieving the ambitious goals and will strengthen MetaTrace’s position as a leader in the GameFi industry,” the team said.
