Fresh capital and a seasoned advisor to enhance the metaverse

The metaverse comprises 3D virtual worlds and inter-connected environments that can be joined anywhere in the world using powerful real-time communication tools. While some metaverses are currently trending, communication tools are lacking, and interactions often depend on awkward game-play mechanics and unrealistic avatars. Metameet by Fruss AG built pax.world as a ready-to-deploy open platform to address these shortcomings and elevate the metaverse experience by providing an exciting new way to shop, communicate, educate, entertain, and consume for the broadest possible user base.

According to Frank Fitzgerald, Founder and CTO of Metameet and Head Geek for pax.world, "pax.world can be built as a digital retail store, a live entertainment business, gaming worlds, educational classrooms, business conferences, and much more – all with commerce completed in digital currencies."

Bloomberg Intelligence expects the market opportunity for the metaverse to reach $800 billion by 2024 and, according to Grayscale, revenues from virtual gaming worlds currently stand around $180 billion but can easily more than double by 2025 and approach $400 billion. With pax.world, the startup thus takes the next step in enhancing communication and commerce in the digital world. On March 11th, 2022, pax.world will launch its Initial DEX Offering (IDO), along with a central exchange launch immediately to follow.

BOLD Capital Group, LLC (BOLD), an investment and advisory firm headquartered in Charleston, South Carolina, announced its role as advisor and financial backer to Metameet. As part of the new relationship, Metameet added BOLD Capital Group Chairman Denis J. Gallagher to its recently formed Board of Directors.

"We've been very impressed with Frank, Jay McDougall, and the entire management team as well as other Advisors and backers who have come on board," stated Gallagher. "It was appealing to me that the company's technology is fully operational and primed to be deployed. Their go-to-market readiness with features that beat the competition puts pax.world on a solid track for success. I must say, we are all on a fast track learning the ways pax.world can connect businesses, big and small, together in the same space. There is virtuality and reality, and pax.world is immersed in the middle of the two. It is very exciting."

Oversubscribed seed and private rounds
BOLD joins 25 backers supporting Metameet. The startup recently completed its seed and private sale rounds, totalling $5.8 Million. Its Medium post revealed that the rounds oversubscribed 48 hours after the whitepaper release on December 15th that attracted over 2000 requests to invest. pax.world has finalised a carefully selected list of backers, including several prominent names such as Reef, DFG Capital, TRGC, BlueZilla VC, Shima Capital, DextForce, Poolz, AU21 Capital and Jump Trading who serves as public exchange market maker.

(Press release/RAN)