Africa’s only Metaverse venue bags Swiss VC funding

Billed as Africa’s first and only Metaverse venue, SodaWorld has secured initial global investment form a prestigious Swiss venture capital firm. The technology start-up enables artists to earn much-needed revenue from within the Metaverse.

SodaWorld is one of but a few international platforms to utilise the much-hyped Metaverse in a way that benefits creatives.

Soon after receiving investment from CV VC, SodaWorld was announced as one of only two global projects to be featured on the Venice virtual reality programme at Venice Biennale, an international cultural exhibition hosted annually in Italy. The event was announced as part of the official line-up of Venice Immersive 2022.

On Friday, 2 September, SodaWorld will stream a South African curated music experience live from the Soda Studios in Johannesburg. This music event will be live streamed via the SodaWorld immersive VR technology and VRChat functionality enabling guests in Venice to experience a twin VR version of the event. Guests in Venice will be immersed in a range of different African flavours from traditional instruments and linguistics specialist rappers to future facing Afrotech DJs.

Liz Rothenthal, curator of Venice VR, says, “Featuring Soda as one of our two worlds where a live event will be held specially for Venice Immersive is a very exciting strong point of our overall selection. Soda is a vibrant hub of immersive creativity in South Africa, both IRL and online. Leading the way in exploring hybrid events, breaking grounds in what the metaverse is becoming, Soda is a totally unique and brilliant initiative that we are extremely proud of bringing to our world-wide audience.”

SodaWorld’s unique functionality, recently launched via a beta version of the Sodaworld.tv platform, a Twitch and Netflix-style portal that enables artists to engage an online audience, is the basis for the investment from CV VC, whose mission is to expose the untapped potential of blockchain technology.

Olaf Hannemann, chief investment officer and co-founder of CV VC adds, “CV VC is a blockchain tech early-stage VC headquartered in the world’s most mature blockchain hub, ‘Crypto Valley’, Switzerland. We invest in start-ups who demonstrate a capability to transform the way the world interacts and transacts using blockchain technology.

“The dynamic team at SodaWorld have shown an energy, determination, and industry expertise to do just that for artists and creators. Core to blockchain is its ability to build trust. The entertainment and performance sector need to rebuild trust especially from the creator’s perspective. The SodaWorld platform can achieve this and more, new revenue streams for creators.”

CV Labs Africa managing director Gideon Greaves says, “As the incubation business pillar of CV VC, we at CV Labs Africa are stoked to work with the team at SodaWorld who are building on blockchain to enable artists to monetise immersive fandom.

“Their enriching platform empowers African creators to connect with global audiences via the brave new world known as ’the metaverse’ which in simple terms is an interactive and augmented digital reality world, accessible by fans anytime and anywhere and where fans can actually interact with artists and visa – versa. The opportunities are endless. Africa is blessed. It has in its hands a facility, SodaWorld, which can facilitate creators access this Metaverse.”

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