- The MetaTrace gaming project has received a RAK DAO license to operate in the UAE free economic zone.
- The platform’s valuation is close to $300 million, according to Mezen.
- The team plans to raise $25 million as part of a new investment round.
GameFi-project MetaTrace received a license from RAK DAO within the framework of the UAE free economic zone. In addition, the team announced the opening of a third round of investment for further development. Representatives of the project informed Incrypted about this.
MetaTrace launched in May 2022. He attracted the attention of the community with a collection of non-fungible tokens (NFTs), which brought the platform $500,000. The team invested in further development: marketing, searching for new specialists and creating a GameFi product.
In August 2022, the developers presented an MVP version based on the Polygon blockchain and the MetaFora geolocation platform. Today MetaTrace is a Play-to-Earn game in which characters travel across a real world map and collect artifacts: boxes, cars, eggs with pets, and more. The open release of the game in app stores is scheduled for March 2024.
The second stage of investment brought in $5.15 million thanks to the support of Alexey Voyutsky, the project’s angel investor. This stage marked the beginning of the development of a comprehensive ecosystem of blockchain products and the expansion of the team to more than 50 employees.
In September 2023, the MetaTrace (TRC) token was listed on centralized exchanges. At the moment, its price increased by 400%, according to CoinMarketCap data.
In December 2023, MetaTrace received a current valuation from consulting group Mezen – $296 million. According to expert forecasts, it will grow to $700 million during 2024.
For further development, MetaTrace launches investment round A in the amount of $25 million. 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 ambitious goals and will strengthen MetaTrace’s position as a leader in the GameFi industry,” the team said.