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SPACE, a metaverse catered to the arts and to commerce, aiming to provide powerful builder tools that, has just announced it has raised $7 million from several top venture funds.

According to the press release shared with iHodl, the company will use the funds to build the economic glue to join various metaverses into one parallel society.

Among the participants in the fundraising are some of the biggest names in the space such as Coinfund, Dapper Labs (creators of NBA Top Shot and Flow), Digital Currency Group, Animoca Brands, Hof Capital and many others.

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It must be noted that the Space product has launched so far with an Early Access Alpha version that includes more than 10,000+ users.

According to the company, the product allows users to join virtual Spaces and chat, talk or trade with others in the same room.

Batis Samadian, founder of SPACE, said:

"As the metaverse continues to gain mass adoption and becomes a place a where a lot of people meet up to socialize, a natural evolution is commerce, which is what Space is focused on. Users will want to be able to view shows, buy items, sell items, and engage with digital goods within the metaverse. Space is building the Shopify for the metaverse to enable creators to sell their digital items in a turn-key fashion and allowing users to purchase it."

Space is focused on the creation of the next frontier of social commerce experiences in the metaverse: showrooms, stores and gathering places.

Vanessa Grellet from Coinfund said:

"We’re excited to be a part of SPACE and have them be the leader in building the commerce virtual world. The race is on for the few players who will bring future of events and commerce to Web 3, and we are sure SPACE will be one of them."

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