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Web 3.0 platform MetaSky raises $1.8 Mn in Pre-Seed round from Sequoia

Bengaluru based Web 3 platform MetaSky announced on Thursday that it has raised $1.8 Mn from Sequoia and Woodstuck Fund in a token sale round. The Bengaluru based startup was founded by Ankit Arora and Prakhar Sharma in 2021. The platform touts itself as a bridge to web 3.0. it essentially aims to create immersive web 3.0 experience for  its users by offering them NFT wallet, Web3 clubs and other important Web3 applications.

Commenting on the pre-seed funding round, MetaSky’s Co-founder said “Concepts like NFT only make sense if they are accompanied by a strong sense of utilities, a passionate community and real governance rights. We’re building Web3 tools to serve this purpose.” Furthermore, the company claims that its NFT wallet can easily integrate inside any existing website or application, turning any existing app into web 3.0 app.

Recently, MetaSky started its first project – a community-led-play-to earn game called ‘Tanukibies.’ The startup said that anyone can become part of the Tanukibies by buying limited editions of Tanukis. The company will put Tanukis on sale in next month. I.e. April.

Over the last few months, web 3.0 has received lot of media coverage. Web 3.0 is essentially touted as the next iteration or next chapter in the internet technology. This new technology is basically build on the core philosophy of decentralization, offering decentralized model of data storage and usage.

However, many people have casted their doubt about Web 3.0’s ability to maintain a decentralized model.

Last year, Twitter’s former CEO and fintech startup Block’s current CEO Jack Dorsey created quite a controversy  when he voiced his criticism about Web 3.0 on Twitter.

Dorsey claimed that Web 3.0 is being increasingly controlled by big VCs & LPs and hence it is not really decentralized as it claims to be.

On the very same day, Elon Musk also tweeted that Web 3.0 hasn’t really lived up to its expectation. However, Musk’s tweet was cryptic in nature.

Jack Dorsey Tweet

Elon Musk Tweet

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