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Web3 foundation Matera announced it has raised $3.6m in a strategic token round, reserved to future users of the Matera technology.
Investors include Sidedoor Ventures, backers of Sui’s Mysten Labs and Polygon; OG crypto syndicates HighCass Crypto and Medusa Ventures, metaverse project The Sandbox, blockchain advisory firm Saxon Partners, APAC launchpad Enjinstarter, various KOLs as well as long term backers Gemini and Kingsway Capital.
Matera aims to solve a huge problem in the creator economy: the lack of liquidity for creators to monetize. But contrary to many SocialFi projects in the space, Matera is a layer on top of existing social networks, enabling creators to compute their ‘Matera Credit score’ based on engagement on platforms they already use. They can then trade this score for liquidity and rewards in Matera’s DeFi ecosystem, which is open for other DeFi projects to connect.
“No web3 SocialFi has reached major adoption because they underestimate the network effects of web2 platforms”, says Sam Huber, Matera CEO. Even if they get better economics, the switching costs are too high for Creators to start building an audience from scratch on a new platform. Matera as a bridge, enabling users to benefit from the scale of web2 and the economics of web3, solving this dilemma.”
Currently, the platform supports X, and will integrate other social platforms in the near future. Users creating content on X will be able to attract stakers to support them, raise capital for their projects, and monetize their superfans. Matera will be revealing their launch platform at Token2049 in Dubai, enabling creators to sign up and start accessing the ecosystem. Over time, Matera aims to build the entire infrastructure to support 100m creators on-chain: the DeFi platform, the protocol layer, and their own Layer 2.
Matera has evolved since it was first revealed about a year ago. Originally, Matera was incubated as a product of Landvault, the metaverse-as-a-service technology used by brands and Middle East governments to publish and monetize their 3D experiences. Matera evolved into a larger creator economy play, when realizing that the use case could be generalized to the entire creator economy – not just 3D worlds.
In 2024, Matera was spun off from Landvault as a separate foundation, and a dedicated team formed to be full time on Matera, including Luke Gniwecki as its VP of Product (previously at Boson Protocol and Cudo Ventures) and Maxime Sebti as VP Marketing (previously as Human Protocol). Landvault remains a strategic partner for Matera, integrating the technology in government metaverse platforms across Dubai and Saudi Arabia.
About Matera
Matera is revolutionizing the creator economy by integrating DeFi on top of existing social media platforms. Following a successful $3.6 million seed funding, the platform is set to transform how creators capitalize on their audience, marking a significant shift in creative monetization strategies
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