Metaverse developer Digital Village has raised $4 million in funding with significant investment from L’Oréal’s venture capital fund BOLD and the British Fashion Council.
Partnering with VeChain (VET), Digital Village ‘is building a scalable, sustainable and collectively prosperous metaverse.’ After announcing the news, the VET price was up 2% to $0.021 a price not seen since November 12, 2022.
With $4 million in funding, Digital Village is looking to revolutionize the way retailers and communities engage with one another. The platform provides Web3 developers with powerful tools to build stunning virtual experiences within the metaverse setting.
This money will further enhance those capabilities by introducing new tools for 3D world development, allowing users to create digital environments like never before.
Not only that, the seed raise will be allocated to creating sophisticated avatar customization and virtual store development. Brands and content creators will be able to offer their customers the most immersive digital experiences possible.
L’Oréal’s chief metaverse and Web3 officer, Camille Kroely, said the brand had invested in Digital Village as it was looking for leaders in the metaverse and Web3.
“We seek to work with the most promising start-ups who adhere to the highest possible visual and technical standards,” said Kroely. “We are excited to be partnering with Digital Village, whose solutions will be powerful enablers for our brands and whose ideals of sustainability, accessibility and interoperability in the metaverse or Web3 are ones we share.”
Co-founder of Venture Reality Fund, Marco DeMiroz, said the company was investing in Digital Village as its platform makes it easy for Web3 developers to build to the standards available.
“There is no simple end-to-end solution for virtual experiences as brands and creators have come to expect from e-commerce and website builder platforms,” said DeMiroz. “Digital Village’s model solves this by providing robust, aesthetically advanced templates so that anyone can create accessible and interoperable immersive experiences.”
What is Digital Village?
Digital Village is an innovative technology platform that enables developers to craft fully immersive experiences with unparalleled ease. This enables them to construct Metaverse ecosystems that are both resilient and expansive.
Digital Village’s ambition is to construct a fresh online landscape composed of 3D spaces. The aim is to make it possible for people to develop digital identities with an emphasis on sustainability and inclusiveness.
What is VeChain?
VeChain (VET) is an advanced enterprise-level L1 smart contract platform. The platform aims to revolutionize the world through distributed governance and IoT technologies. Their mission – eliminating data challenges in multiple industries worldwide.
VeChain is blazing a trail by disrupting traditional business models. The company’s secure L1 blockchain technology specifically tailored for supply chain management has already made waves. Renowned clients and government organizations are impressed by the decentralised trust layer that VeChain provides in multi-party ecosystems.