MetaZ Holdings, the owners of the Korean-based sneaker trading marketplace Meta[Z], has announced a $1 million Series A Investment from Pinewood Capital.
On the Meta[Z] marketplce, sneakers are traded in the form of NFTs. The platform provides a service called Custody, which receives and stores sneakers in exchange for NFTs, issued on sneakers that pass an authentication inspection. Sneakers can be traded among users as NFTs, whilst the physical shoe remains in one place. With this trading system, owners are able to trade sneakers without risk factors which occur during multiple shipping and inspections, thereby maintaining the condition of sneakers and keeping the value as high as possible.
MetaZ Holdings is a US-based corporation and Meta[Z] (metaz.io) is their key service, operated by MetaZ.inc, its child company based in Korea.
Brandon Choi, co-CEO of MetaZ Holdings, said: “Taking this investment as an opportunity, we will stabilize the service by strengthening technical aspect and proceed with service expansion as planned by taking marketing plans into action. We expect that will lay the foundation for leading asset investment service innovation.”
