Metamall, a blockchain-based virtual reality (VR) platform that allows users to create, explore, and trade in their own virtual mall, recently raised $4.6 million via token sales.

316VC, CSPDAO, MarsVC, WLI Capital, BullPerks, HVS Ventures, CCK Ventures, and others participated in the round. Virtual land worth $1 million has been sold on Metamall.

The sale of digital lands has become an important part of the process of creating various virtual worlds that will eventually be integrated into a single'metaverse.' Decentraland and Sandbox are two other prominent online worlds.

Serge Gianchandani, who has 12 patents on 3D and VR imaging, created Metamall in 2021, according to the business. It plans to use the capital to expand its technology and marketing teams, as well as collaborate with tech platforms and designers to develop retail and gaming experiences.

“We see generations of users spending quality time on the metaverse for gaming, social networking as well as building wealth. Metamall is a unique convergence of metaverse, NFT and crypto that enables enriching user experience as well as giving brands, individuals and experience owners to connect with their audience. We are very excited as this journey enters its next phase,” says Gianchandani.

Metamall is a virtual real estate platform built on the Solana Blockchain network that allows users to buy virtual real estate and earn money by leasing, staking, advertising, and improving it.

The MetaMall aims to turn ordinary activities like shopping, socialising, and business interactions into an immersive VR experience. It has different zones for commercial properties to put up shops, showrooms, and business interactions, as well as leisure activities like casinos, clubs, virtual reality games, and NFT art galleries, according to the statement.