Parcel Raises $4M in Seed Funding

Parcel, a NYC-based NFT marketplace for virtual real estate, raised $4 million in seed funding.

The round was led by Framework Ventures, with participation from Fifth Wall, Blizzard Fund (Avalanche), AVIV Group (Axel Springer), AppWorks, Great Oaks, and Serafund; as well as a roster of angel investors including Aaron Wong (SoftBank), Sebastien Borget (The Sandbox), and Santiago Santos.

The company intends to use the funds to continue developing its feature set for the Creatorverse and expanding marketplace listings to virtual worlds beyond the Ethereum ecosystem.

By aggregating digital land listings and architectural services for virtual landowners, sellers, and builders, Parcel is the first comprehensive marketplace . Parcel launched in July 2021 amidst a virtual real estate market that generated more than $500 million in sales in the 2021 calendar year and has already surpassed $1 billion in sales during the first half of 2022. The platform aggregates real estate listings across several of the largest virtual worlds on the Ethereum blockchain, including The Sandbox, Decentraland, Voxels, Somnium Space, Mona, and NFT Worlds. Multi-chain support on Avalanche and Polygon is planned for later this year.

Led by Noah Gaynor, Co-Founder and CEO, Parcel provides a marketplace that offers interactive, data-rich visual maps to help users navigate the virtual real estate ecosystem. It also provides real-time price appraisals for open listings and utilizes a proprietary gas-efficient smart contract to facilitate sales.

To encourage the development of diverse projects and services across virtual worlds, Parcel is developing a comprehensive creative directory known as Creatorverse. Through Creatorverse, landowners will be able to easily discover and employ virtual architects and service providers by browsing their portfolio of digital work. Parcel also offers Learn, an educational platform that helps onboard new users and advance knowledge for the Web3 community.