SodaWorld, South African Metaverse Startup Receives Funding From Swiss CV Venture Capital Firm
To help artists get the much-needed income from their work in the Metaverse, Swiss venture capital firm CV VC has invested an undisclosed amount in South African metaverse startup SodaWorld.
The SodaWorld platform, Sodaworld.tv, is a portal modeled after Twitch and Netflix that enables artists to interact with online viewers. The Venice Biennale, an annual worldwide cultural exhibition held in Italy, is featuring only two global projects this year, one of which is the platform.
On September 2, SodaWorld will stream a specially tailored musical experience from Johannesburg’s Soda Studios live on the internet.
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 diverse African flavors, from DJs who specialize in Afrotech to rappers who specialize in languages and traditional instruments.
The Swiss-based early-stage venture capital firm CV VC specializes in blockchain technology. It makes investments in start-ups that can show they can use blockchain technology to fundamentally alter how people connect and do business.
Olaf Hannemann, chief investment officer and co-founder of CV VC, spoke about the investment in SodaWorld and noted that the SodaWorld team has demonstrated the drive, tenacity, and industry knowledge to develop a product that will be helpful to artists and innovators.
The blockchain’s capacity to foster trust is at its core. Rebuilding trust in the entertainment and performance industry is necessary, particularly from the creators’ standpoint. This can be done and the SodaWorld platform can give authors new sources of income, he continued.
Following SodaWorld’s completion of the CV Labs’ international incubator program, which also included six other Web3 firms from around the world, the CV VC investment was made.
