MetaToken ventures into new horizons with $5m funding

Future development plans include virtual poker tournaments taking place at designated VR spaces

MetaToken made headlines by revealing they had raised $5m through private investors. The igaming project which runs on Ethereum and TON claimed that within one week it completed the funding round successfully amassing the considerable investments, an achievement that shows how much potential there is for such virtual reality ventures.

The team behind MetaToken launched the presale on June 15 and the public sale on July 15. Now the platform is also undergoing full audits so as to maintain transparency as well as safety.

Speaking with delight about the overwhelming backing during the presale, Dmitry, MetaToken’s CEO said:

“The overwhelming support and rapid investment we received in our private round signify a strong vote of confidence in MetaToken’s vision and potential. There is a growing demand for online casinos, and we provide a platform where users get a fair chance at rewards with a token that has comprehensive utility. This simple and transparent model has been our biggest appeal in the private funding round.”

It was early last year when the MetaToken team came up with the idea of creating a web3 gambling environment based on $MTK tokens – the platform’s native cryptocurrency. So far the platform has been offering a wide range of products such as games, lottery, and staking opportunities.

Some of MetaToken’s plans for the future include virtual poker tournaments that will have their own designated real dealers in various virtual reality spaces.  The platform also wants to create a customizable AI-based white-label solution that will help with creating and managing web3 casinos.

In terms of tokenomics. MetaToken aims for long-term engagement of users and providing real value for those who hold $MTK tokens. By becoming “co-founders” of the casino through owning $MKT tokens, participants can share MetaToken’s success thanks to profit sharing mechanisms while also gaining access to features and events within the MetaToken ecosystem that are exclusive to token holders.

The project boasts a notable slogan: “Don’t earn in the casino, earn with the casino.”

In addition to the vast range of gaming offerings, however, the MetaToken team also wants to provide transparency and security too. At present there is an extensive audit being carried out by one of the top blockchain security firms globally which will go over all smart contracts and infrastructure.

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Written by Silvia Pavlof

Silvia has explored various forms of writing, ranging from content creation for social media to crafting movie scripts. Drawing on her experience as a journalist specializing in the gambling sector, she is currently investigating the impact of cryptocurrencies and blockchain on traditional gambling and iGaming.

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