Metagood, a Web3 company that uses non-fungible tokens to empower communities to do social good, announced today that it has raised $5 million in seed funding to continue bringing this vision to life.

The company is behind OnChainMoney NFTs, which are a type of collection of crypto asset artwork that can be used as profile pictures in the same vein as other popular collections like Bored Ape Yacht Club and Cryptopunks. Based on blockchain technology, NFTs can be owned, bought, and sold, so they can be used to raise funds and build communities for social good.

“We have been able to build a powerful community through our OnChainMonkey NFTs,” said Metagood co-founder and president Bill Tai. “Our investors see the promise that Web3 holds to effect change, and they are supporting it. This investment from such prominent, change-minded people will inspire our communities to get involved and help us do even more good.”

Investors in this round include Animoca Brands, Liquid 2 Ventures, Morgan Creek Capital Management founder and CEO Mark Yusko, Virgin Group investment manager Freddie Andrewes, among others.

Past investors included notables such as actor Owen Wilson, Axie Infinity co-founder Jeffrey Zirlin, Twitch co-founder Kevin Lin, Litecoin creator Charlie Lee, Second Life founder Philip Rosedale, Crunchyroll founder , Kun Gao, among many others.

“Metagood’s mission and vision, which embody the values ​​of respect, integrity, sustainability and experimentation, are vital to building a positive future for Web3, and we are proud to support its mission to make this future more accessible,” said Yat. Yes, Animoca. Co-founder and president of Brands.

The organization has managed to raise more than 2,000 ETH, roughly $2.5 million at current prices, in just one year. The company uses its NFT collections and community to help others raise money to help charities and other social impact groups and humanitarian projects.

Projects Metagood has been involved with include OCM Earth, an NFT collection of 1,000 pieces of art sold for .1 ETH, or roughly $125, on March 4 with proceeds going to humanitarian aid for those affected by the current conflict in Ukraine. The organization also auctioned off an NFT to support reef regrowth at the Coral Vita coral conservatory in the Atlantic Ocean and partnered with Future Brilliance to help evacuate the famously pictured Afghan Girl from Afghanistan in November.

The organization’s first charity auction took place on September 29, less than three weeks after OnChainMonkey launched, with 100% of the proceeds going to the Giga Connect project, which provides internet access to schools around the world. . The auctioned NFT artwork was donated by @p0lynice, a member of the OnChainMonkey community, and the auction was won by Roham Gharegozlou, founder and CEO of Dapper Labs.

The company said it plans to use the money to continue building the community and tools to show how creators, communities and businesses can use Web3 technology, such as NFTs, for social impact.

Image: Pixabay