Africa’s First Metaverse Venue, Sodaworld Secures International VC Funding
SodaWorld, billed as the first and only Metaverse venue in Africa, has obtained initial global funding from a renowned Swiss venture capital firm. The startup enables artists to receive much-needed funding from all throughout the Metaverse.
SodaWorld is only one of many international platforms that use the much-hyped Metaverse in a way that helps creatives. It was announced as one of only two global projects to be featured on the Venice digital reality program at the Venice Biennale, a global cultural exhibition held annually in Italy, shortly after getting funding from CV VC. The event was announced as a part of Venice Immersive 2022’s official schedule.
A South African-curated musical experience will be streamed live from Johannesburg’s Soda Studios on Friday, September 2. The SodaWorld immersive VR technology and VRChat capabilities will be used to stream this music event live, allowing attendees in Venice to experience a twin VR version of the event. Visitors visiting Venice will be exposed to a variety of distinct African Tavours, from DJs who specialize in Afrotech to rappers who specialize in languages and traditional instruments.
The basis for the investment from CV VC, whose goal is to reveal the unrealized potential of blockchain technology, is SodaWorld’s distinctive functionality, which was recently launched via a beta version of the Sodaworld.tv platform, a Twitch and NetTix-style portal that enables artists to engage an online audience.
Liz Rothenthal, curator of Venice VR noted that including Soda as one of two worlds was a very exciting strong point of the startup’s overall selection. In South Africa, both offline and online, Soda is a thriving center for immersive creativity. Soda presents its global audience an opportunity to explore a hybrid events and understand what the Metaverse is.
About Swiss VC
Swiss Crypto Valley Venture Capital (CV VC), is a private venture capital firm based in Switzerland. The firm aims to use its public-private partnership with the Swiss State Secretariat for Economic Affairs (SECO) to create the first-ever Blockchain-focused accelerator for Africa. Stakeholders are willing to wager that Africa will give rise to the world’s first Blockchain unicorn.
As the founder of the Crypto Valley Blockchain hub, which includes 14 Blockchain unicorns, CV VC said that it will invest in the broader potential of Blockchain technology to address issues and develop new markets outside of the cryptocurrency space.
The investment includes creating an accelerator with a focus on Blockchain and Africa. According to CV VC, the accelerator aims to invest in 100 African start-ups over the course of the following four years.
The chief investment officer and co-founder of CV VC, Olaf Hannemann, asserts that CV VC invests in startups that can show they can use Blockchain technology to revolutionize how people communicate and conduct business. He noted that the talented group at SodaWorld has demonstrated drive, tenacity, and market knowledge to accomplish that for artists and innovators.
“CV VC is a Blockchain tech early-stage VC headquartered in the world’s most mature Blockchain hub, ‘Crypto Valley’, Switzerland.
“The dynamic team at SodaWorld have shown an energy, determination, and industry expertise to do just that for artists and creators. Core to blockchain is its ability to build trust. The entertainment and performance sector need to rebuild trust especially from the creator’s perspective. The SodaWorld platform can achieve this and more, new revenue streams for creators,” said Hannemann.