French Startup METAV.RS Raises €3M In Seed Funding to Build the ‘Shopify’ of the Metaverse

METAV.RS is a content management platform that provides luxury brands and retailers with solutions that allow them to manage Web3 assets, branded e-commerce sites and virtual worlds.
Image source: METAV.RS

Quick take:

  • METAV.RS offers a platform to scale 3D NFT production.
  • Brands and retailers can also create virtual dressing rooms and “miniverses”.
  • The platform aims to be the Shopify of the metaverse.

French startup, METAV.RS, today announced that it has raised €3M in seed funding, Forbes first reported. The round was led by Jsquare, a Singapore-based Web3 fund, global French consulting firm Sia Partners (via investment arm Studio), and investment fund 50 Partners.

Participants include angels such as Ledger co-founder David Balland, The Sandbox co-founder and CEO Sébastien Borget, serial entrepreneur Michael Amar, Thibault Renouf, CEO of Partoo, Joel Hazan, Managing Director & Partner of BCG, Sébastien Lalevée, CEO of Financière Arbevel and Jonathan Bordereau, CEO of Golden Bees.

Funds will be used to expand the METAV.RS team, IT training, platform development, and global expansion. The startup has over 20 employees and plans to double its headcount by the end of 2023.

Incubated at Paris’ Station F by Korean web and metaverse giant, Naver, METAV.RS is a no-code content management platform that provides luxury brands and retailers with solutions to manage Web3 assets, branded e-commerce sites and virtual worlds. 

The platform was created in January this year by Simon and Clément Foucher, Jérémie Salvucci, and Adrien De Lavenere-Lussan. They have backgrounds in entrepreneurship, digital transformation and marketing, 3D, engineering, software development and video production.

One of the solutions includes a Web3 asset manager that can scale premium 3D NFT production and make these NFTs compatible with Decentraland and The Sandbox, and usable in augmented reality and social media filters.

Retailers can also create a “metashop,” to sell NFTs directly on their e-commerce sites with APIs. They can also use the platform to create their smart contract and assign perks to their NFTs. There are also metaverse apps that brands can use to create virtual dressing room and “miniverses”.

“We aim to be the Shopify of the metaverse,” co-founder Clément Foucher told Forbes. “ We have a similar business model with our plug and play solutions from virtual dressing rooms to digital twins.”

The platform has a 3D reconstruction application that scans physical objects and turns them into 3D models that can be used to create digital twins. These can then be interoperable across different metaverse platforms or integrated onto product sites to make the metaverse more accessible for brands and boost revenue.

Foucher told Forbes that METAV.RS is targeting major luxury retailers who already have assets for cross metaverse integration. For one of its clients, the team is currently working on tokenising a loyalty program with digital and physical rewards.

The startup has already created a MetaJacket NFT for the Metaverse Summit and is participating in the Web Summit in Lisbon, GITEX in Dubai, CES in Las Vegas, and NRF in New York over the next few months.

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