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Coderblock Closes Crowdfunding Round on Mamacrowd to Create the First Italian Metaverse

The investment campaign of the Italian company Coderblock, on Mamacrowd, initially started with a goal of $382,000 (€350,000), to enhance the SaaS platform and expand the business through the creation of Coderblock’s first metaverse. The goal was then extended four times, given the interest aroused that led to 400 new members and $897,000 (€822,000) raised.

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Coderblock’s campaign on Mamacrowd has ended with over $873,000 (€800,000) raised. During the campaign, which opened on November 18th, 2021, and closed last month, the innovative SME from Palermo founded by Danilo Costa, today CEO of the company, and his partner Aura Nuccio, COO and Head of Design, decided to extend the maximum fundraising target three times: from the initial $382,000 (€350,000) up to $895,000 (€820,000), in order to involve the many investors interested in joining the campaign.

Thanks to the funds raised, Coderblock will be able to expand the team for the next growth phase of the company, which aims to internationalize the product. The investments will also allow structuring the team, encouraging a greater flow of resources in the field of research and development, increasing the company’s value, and opening a new revenue stream, creating Coderblock’s first shared metaverse.

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The equity crowdfunding round

After closing out 2021 with a +109% increase in revenue over 2020, the Sicilian innovative SME has evolved with speed to stay abreast of new market needs, to become an automated platform for creating B2B virtual experiences in four main areas: work, events, education, and shopping.

The investment campaign on Mamacrowd initially started with a goal of $382,000 (€350,000), to enhance the SaaS platform and expand the business through the creation of Coderblock’s first metaverse. The goal was then extended four times, given the interest aroused that led to 400 new members and $897,000 (€822,000) raised. In the previous campaign, which closed in July 2020, the company had welcomed 102 investors on board, raising $292,000 (€268,000).

The Italian Metaverse

“After the successes of 2021, which allowed us to exceed the expected revenue targets and create the first SaaS platform for the automated purchase of 3D virtual environments, the results of our second campaign were further confirmation of how the experience market is in continuous and incessant evolution. The closing of the campaign is in fact for us the beginning of a new and exciting chapter that will lead to the creation of our first shared metaverse and will be able to reward anyone who wants to be part of it” says Danilo Costa.

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In the metaverse it is possible to create a 3D store that links to one’s own e-commerce, place advertisements, organize in immersive pavilions and virtual classrooms one’s own initiatives and events, and much more. The metaverse will allow innovative SMEs to multiply their business opportunities, opening up to new targets, thanks to the creation of a proprietary virtual economy, the integration of blockchain-based technologies (NFT), and the countless possibilities for companies and users.

To reward investors who have believed in the company, its team, and its future potential, Coderblock has provided different types of rewards.

“Depending on the investment, even minimal, our new members will receive a customizable 3D environment such as an office, a virtual pavilion, a campus, or an entire metaverse. This mode of on-demand investment will allow us to predict market trends in the use of the metaverse and enhance the technology product from time to time to intercept the needs of each sector,” continues Costa.

About Coderblock

Coderblock is the first online platform dedicated to creating immersive virtual experiences within interconnected 3D metaverses for offices, events, education, and shopping. When Novatek Srl, the Innovative SME behind Coderblock founded by Danilo Costa, is born on December 5, 2015, the software house starts a self-bootstrapping activity that immediately leads to an active turnover, thanks to digital product and service development activities for third parties, with which Danilo manages to self-finance the technology behind the product.

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(Featured image by Tumisu via Pixabay)

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Anthony Donaghue writes about science and technology. Keeping abreast of the latest tech developments in various sectors, he has a keen interest on startups, especially inside and outside of Silicon Valley. From time to time, he also covers agritech and biotech, as well as consumer electronics, IT, AI, and fintech, among others. He has also written about IPOs, cannabis, and investing.