A Decentralized Metaverse Mall for Users to Build Wealth: Metamall

While the internet has been one of the greatest revolutions in human life during the 20th century, today is the age of blockchain technology and it is opening a completely different one for people – the era of the virtual world.

Previously, the mall was only a place for people to watch movies, shop, and meet friends. The internet has made everything on a screen like watching movies with Netflix, shopping with Amazon, or Facebook is where people communicate and make friends with each other. The development of Metaverse is a continuation of the revolutionary breakthroughs of blockchain technology.

What Is Metamall?

Metamall is a virtual version of the all-encompassing zone in the Metaverse. It provides virtual reality (VR) for users to build, explore, and trade their own virtual assets. They can build and sell real estate as NFTs or host virtual games, events, and galleries among other things.

In addition, users can also engage with some biggest brands in the commerce, business, and entertainment industries while staying at their homes.

The platform was founded in 2021 by the pair co-founders Serge Gianchandani and Sahan Ray. Serge Gianchandani is one of the leaders in immersive technology and has 12 patents on 3D and VR imagery.

He was also the founder of Egg Solution Optronics. Sahan Ray, the other half of the founding team of MetaMall, is an IIT and IIM Alumni and has led multiple businesses to Unicorn Status.

What Does Metamall Offer?

Metamall is just like its name which is a mall in the Metaverse that converges three of the world's biggest technologies including VR, NFTs, and DeFi. This is a virtual space where everyday tasks such as shopping, socializing and business interactions are converted into an immersive experience powered by VR technology.

It is designed to include separate zones for commercial properties to set up shops, showrooms, and business interactions, along with casinos, clubs, VR games, and NFT art galleries. As such, users can also buy, sell, and lease virtual real estate as well as organize virtual events.

Users who hold the platform’s native token MALL will be called Metamallers. Metamall will serve as a primary center for crypto enthusiasts of all levels. This is the first platform where users can access crypto knowledge and immersive entertainment in one location. By owning Real Estate, selling advertising, playing games, or creating networks, Metamallers will be able to make money for themselves.

Metamall is built on the Solana blockchain network, which is known as the fastest blockchain in the world and the fastest-growing ecosystem in the crypto space.

To date, there are over 400 projects across DeFi, NFTs, Web3 spanned on the network. It is not only all about speed, with 400 millisecond block times, to make hardware faster, but its scalability also ensures transactions remain less than $0.01 for both users and developers.

These help Metamall to ensure the fast completion of transactions, and cheapest gas fees while featuring a cross-chain compatible wallet.

Is Metamall The Future of Digital Retail?

Selling digital lands has been an important part to build different virtual worlds that would one day be combined into a single Metaverse.

Not only is it a central meeting place, but a shopping mall also is an important social interaction between people of different backgrounds and age groups. Today, instead of a trip to a mall weekly, people can spend hours, meet their friends, and interact with them at a cafe in real-time without getting out of home thanks to a virtual mall in the metaverse. Metamall is one of the projects that serve as a metaverse real estate seller to contribute to a virtual mall in Metaverse.

The project is the combination of what people see on an e-commerce shopping site with a better visual experience. It brings users to a mall in virtual reality and interacts with real people. According to MetaMetrics Solutions, Metaverse real estate sales reached $501 million in 2021. Sales in January hit $85 million and could reach nearly $1 billion in 2022.

The virtual reality shopping startup has successfully closed its pre-IDO funding round at USD 4.6 million through token sales and over $1 million has been raised so far through NFT Real Estate sales.

These investments come from a clutch of the industry's leading Venture Capital firms such as 316VC, MarsVC, CSPDAO, WLI Capital, BullPerks, HVS Ventures, CCK ventures among others.

The funds raised in these rounds will be used to expand the company’s tech and marketing teams. In addition, the startup is also working with leading tech platforms and designers in the industry to deliver a more innovative and engaging metaverse for a retail and gaming experience.