Singapore, November 18, 2021 — Cryptomeria Labs announced today that it has attracted strategic investments in a recent round of funding that brings the company valuation to $17 million.
The new venture studio is the brainchild of the team behind Cryptomeria Capital, a venture capitalist (VC) fund investing in early-stage blockchain and Web 3.0 projects.
The team strongly believes that the rapid rise and utility of nonfungible tokens (NFTs) within digital art, blockchain gaming and the metaverse will come to represent our next great milestone as a networked species.
Cryptomeria Labs plans to launch multiple homegrown and incubated projects focused on the Metaverse, NFTs and games on the blockchain, all while providing financial and technical support to promising third-party ventures in these spaces.
Managing partner Sergei Medvedev, a former chief business development officer of Cointelegraph with over seven years experience in the blockchain industry, had this to say about the fundraiser:
“We are incredibly pleased to announce this fundraising round. We stand firmly behind NFT technology and metaverse platforms and intend to play a major role as the market continues to expand globally. Cryptomeria Labs will use these funds to develop game-changing metaverse projects and support promising third-party startups in the space.”
Sergei is joined at Cryptomeria Labs by Alex M, another Cointelegraph alumnus and managing partner of Cryptomeria Capital and Vadim Krekotin, CEO and co-founder of Cointelegraph China and founding partner of Cryptomeria Capital.
“The announced entry of behemoths like Facebook and Microsoft into the arena just affirms our long-held belief that the future will indeed be significantly metaverse-flavored,” stated Alex. “The potential of the metaverse space is clear and it has a bright future ahead of it. Cryptomeria Labs will focus its efforts on becoming a major player in this global trend,” added Vadim.
The studio is currently putting the finishing touches to its first exclusive in-house NFT collection, bringing gaming elements to the format of the generative artwork. The launch is being carried out in collaboration with industry-leading names and tier-one collectors.
Cryptomeria Labs is a venture studio focused on the NFT, metaverse and gaming space.
Cryptomeria Capital is a venture capital firm supporting early-stage blockchain and Web 3.0 projects. It has access to a wealth of resources with a strong representation in the Asian market.
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Cryptomeria Labs: Website
Cryptomeria Capital: Website