Ending Soon! Save 33% on All Access

Geo Metaverse Project Trace Raises $3.5 Million Trace is a geo-location based metaverse, which utilizes AR technology and is accessible via smartphones

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company handout

Play-To-Earn NFT Metaverse project, Trace has raised over $3,000,000 in a closed round of seed investments. Additionally, Trace also raised an additional $500,000 through NFT Sales on the platform. The project, currently a host to over 100,000 members across local communities, has also announced the appointment of Indian crypto influencer, Abhyudoy Das as their advisor. Trace is a geo-location based metaverse, which utilizes AR technology and is accessible via smartphones.

"The Gaming market in India has seen a massive growth over the past couple of years and currently shows no sign of decline. Considering the overall popularity and the kind of market penetration of the gaming industry, we feel this is the perfect time to leverage this interest to facilitate mass adoption of the crypto market. Trace offers players the potential to make money solely through the in-game features. It has already created an in-app marketplace, where layers can buy and sell avatars, cars, car parts, boosters, and other game items, which is much more convenient for the users than searching for the necessary NFTs on third party marketplaces," said Abhyudoy Das.

Trace's revenue includes income from brand collaborations, in-app advertising, commissions, and in-game purchases. Then it is distributed to rewards, token burning, and metaverse development. The utility token of the project is called ACE and it is unlimited. The governance token is called TRC. The total issue of TRC is limited to 5 billion tokens only, said the company in a statement.

Trace is a geolocation-based metaverse with AR technology for smartphones. Trace Metaverse breaks down the barriers between the digital and the physical, allowing people to interact with digital objects right in the real world.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business News

Now that OpenAI's Superalignment Team Has Been Disbanded, Who's Preventing AI from Going Rogue?

We spoke to an AI expert who says safety and innovation are not separate things that must be balanced; they go hand in hand.

Business News

Scarlett Johansson 'Shocked' That OpenAI Used a Voice 'So Eerily Similar' to Hers After Already Telling the Company 'No'

Johansson asked OpenAI how they created the AI voice that her "closest friends and news outlets could not tell the difference."

Cryptocurrency / Blockchain

The 50 Richest People in Crypto

The richest cryptocurrency holders.

Side Hustle

The Side Hustle He Started at Age 15 Led to a $4 Billion Boon for Small Businesses: 'They Would Take a Chance on Me With Their Hard-Earned Money'

Nic Beique asked his local barber, gym and more if they'd like him to build a website for their businesses.


What Franchising Can Teach The NFL About The Impact of Private Equity

The NFL is smart to take a thoughtful approach before approving institutional capital's investment in teams.