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OneRare to drive blockchain and Web3 adoption in the food industry after $2M investment round

CryptocurrencyNov 17, 2021 05:30AM ET
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OneRare to drive blockchain and Web3 adoption in the food industry after $2M investment round

The Metaverse is quickly becoming a technology buzzword in the business and blockchain worlds. The “metaverse” is the next-generation method of interaction that many big firms, such as Facebook (NASDAQ:FB), Microsoft (NASDAQ:MSFT), and Nvidia (NASDAQ:NVDA), believe will replace the Internet.

To leverage on first-mover advantage, OneRare has announced that it has closed a heavily oversubscribed $2M seed round led by major VCs and globally renowned angels in the crypto industry. The goal of this project is to create a platform that will allow gamers, foodies & celebrity chefs from around the world to interact with each other in a novel way.

The initiative strives to be the world’s first Food Metaverse with an aim to help bring the next wave of blockchain adoption, while creating the first inroads for the Food industry.

Blockchain impacting the Food industry

Blockchain is being increasingly applied in the real world to address real-world issues. Blockchain technology has pervaded the Food business, and it is at the core of several campaigns to improve how food is acquired, sold, traded, or consumed. The technology is also being utilized to address issues like food fraud, waste, and abuse.

However, OneRare is looking to change this approach through its metaverse for food, gaming, and NFTs with the latest injection of funds. The company claims that the fresh inflow of cash will be crucial in enhancing product features and recruiting world-class chefs to propel global growth. The investment funds will play a crucial part in assisting OneRare in developing its foodverse and establishing itself as a significant player in the crypto space.

OneRare’s Supreet Raju said that the initiative is just beginning, and it intends to bring the conventional food industry to the Metaverse by leveraging Play2Earn in the most gamified and exciting manner possible. This will be enabled by cutting-edge technologies in Web3.

The foodverse game was created to reach a wider audience, celebrate global food culture, diversities and build an enthusiastic community of passionate cooks and foodies across the world. Food truly knows no barriers. With the support of our current investors and advisors, we are striving towards being the first project to bring food to the blockchain.

Backed by Renowned Angels and Major VCs

According to the statement, the project is backed by renowned angels like Sebastien Borget from The Sandbox, Sandeep Nailwal from Polygon, Ravindra Kumar from Frontier, Nischal Shetty from WazirX, Tamar Menteshashvili from Solana, Prakash Somosundram from Enjinstarter, Shashwat Gupta from AltcoinBuzz, Edmond Truong from Formation Fi, and Tarun Jaswani from Unbound Finance.

Major Venture Capital firms that participated in the $2M round include Arkstream Capital, Momentum 6, StableNode, Exnetwork Capital, Everse Capital, Enjinstarter, Kangaroo Capital, Tag Ventures, Maven Capital, 1010 Capital, CSP DAO, Skyman Ventures, FF Ventures, and Lucid Blue Ventures and ZBS Capital.

Metaverse is expected to be the next iteration of the Internet, with blockchain as its core. It’s a technology that aims to allow everyone to fully utilize their digital identities, conduct peer-to-peer transactions, and exchange value in virtual reality. The creation of a metaverse for food, according to OneRare, is the first step toward this future. The goal of this project is to provide a highly immersive and gamified experience for foodies from all across the world.

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OneRare to drive blockchain and Web3 adoption in the food industry after $2M investment round
 

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