Malaysia-based metaverse development company, Virtualtech Frontier (VTF), has secured a US$200,000 seed round funding from Blockchain Founders Fund (BFF).
According to a press release on Thursday, VTF, which is also backed by venture capital fund 500 Global, will allocate the funds towards increasing its headcount, supporting marketing activities, and further developing its metaverse platform - Mitoworld.io.
Founded in 2021, VTF has worked over 100 major brands including Google, Visa, Petronas and Mercedes-Benz to create virtual experiences.
The company describes itself as being at "the forefront of creating an interoperable and accessible metaverse." According to VTF, its metaverse platform Mitoworld.io allows communities to "easily create and share their very own metaverse". It also said that it has tripled its revenue in 2022 as compared to the previous year.
Blockchain Founders Fund is a Singapore-based early-stage venture capital fund which invests in bockchain startups globally. Founded in 2018, its portfolio includes blockchain game Splinterlands, as well as prominent crypto companies such as LunarCrush, ASM, and MonkeyBall.
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