First Meta Receives Half A Million in Funding from Plug & Play Tech Center
March 29, 2012 by Press Releases
Singapore, March 29, 2012 – First Meta (www.firstmeta.com) announced today that it has secured SGD 588,000.00 in growth capital from Silicon Valley based technology business accelerator Plug and Play Tech Center, and Singapore’s National Research Foundation. First Meta currently provides a web-based exchange for users to buy, sell, and trade virtual currencies for real money across multiple games and virtual worlds. The Company has deep expertise in the virtual goods space. First Meta was the first provider of ATMs and Credit Cards inside the popular virtual world Second Life, and their existing exchange was built to provide users with further liquidity.
“Consumers are being bombarded with virtual currency today like we’ve never seen before. We get them from games, websites and reward programs. Soon most of us will have 5 or 10 different types of online currency. You likely have a handful already. First Meta provides a safe environment for you to mange and trade these goods; we work closely with game publishers and other issuers of currency to offer a sanctioned environment for trading” says CEO Autumn Radtke who joined First Meta in January. The company, which already has stable revenue, is using the newly secured capital to build the next generation of its virtual goods exchange and expand support to new platforms.
Virtual Currency trading is somewhat similar to forex trading and it’s already a large business in Asia. “We believe as gaming becomes more mainstream so will secondary trading. We’re here to help the new generation of game companies and currency issuers participate in revenue and avoid the black market fraud problems associated with unsanctioned trading.”
“First Meta is in a fast growing and exciting industry and we are looking forward to working with the team to succeed in Asia and beyond”, added Jupe Tan, VP International Operations of Plug and Play Tech Center and Director of Plug and Play Singapore.
First Meta a Singapore based technology company was founded in 2007 with the goal of providing virtual financial
services to end users of games and virtual worlds.
About Plug and Play Tech Center:
Plug and Play Tech Center officially commenced its Singapore operations in March 2010 with the goal of
accelerating entrepreneurial companies, increasing their access to the dynamic resources of Silicon Valley and
increasing the chances of commercial success.
About National Research Foundation:
The National Research Foundation (NRF), set up on 1 January 2006 as a department under the Prime Minister’s
Office, seeks to strengthen Singapore’s R&D capabilities, encourage greater innovation and nurture the growth of
technology-based enterprises in Singapore.
For more information please contact
Business Development Manager
Plug and Play Singapore
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