Off Live Inc, the developer behind the social avatar ‘microverse’ experience Myty, has secured $3.5 million in seed funding to continue development.
As a title, Myty allows players to create their own custom avatars and use them across a wide array of social media – ranging from Zoom, to Youtube and Twitch. This emphasis on a microverse of player avatars has earned it some significant attention – hence the new stream of funding.
Co-leading this new round of funding was the duet of HASHED and Collab+Currency. Follow-on investors include Bitkraft Ventures, Electric Capital, Coinbase Ventures, and SamsungNext.
In contrast to the metaverse envisioned by development studios, Off & Myty are more interested in the microverse – the environments available within a metaverse. If, for example, a single game were to have different instances (events, forums, etc.), Myty would provide them with what they need to eloquently express themselves through their avatar.
Jinwoo Park, Off’s team lead, explains: “Our big vision of the metaverse is for people to break free from physical reality so they can express themselves honestly and authentically… We think avatars will be a key component for more people to enter the metaverse to represent their second persona and will enable another NFT utility.”
Myty: What’s next for the team?
For the Off team, the funding allows them not only to expand upon Myty’s development, but also its next initiatives. Specifically, its latest ‘Ghosts Project,’ a collection of NFT avatars designed by the Off team and illustrator, MrMisang. Unlike previous projects, Ghosts Project is being developed to provide users with fully emotive, NFT-based avatars online.