Lumos Labs has announced the launch of a metaverse platform for developers to learn, earn, and explore opportunities after raising over $1.1 million in funding led by Web3.0 venture fund Delta Blockchain Fund.

The round also saw participation from venture capitalists such as Superblock, Next Web Capital, Arcanum Capital, AG Build, Paradigm Shift Capital, and multiple angel investors from the Web3.0 ecosystem.

“Lumos Labs was built with a vision of bringing blockchain technology to the forefront for developers and founders and over the years, we have run multiple programs with over 40 Web3 partners while building a strong community of developers to achieve that goal," said Kaavya Prasad, founder, Lumos Labs.

With the Web3.0 space, the global blockchain market is expected to grow at a rate of 45% to reach $34 billion by 2026, the company said.

"With the transition to the metaverse, we are now striving further to strengthen and enable Web3 developers as they access several global opportunities, incentives, and knowledge on a single dedicated platform,” Prasad added.