The company announces purchase agreement
Metalinq Labs Inc is building a multiverse next-gen Layer 3 protocol to enable interoperability, the company is creating a way to bridge between NFT standards thus opening up the ability to interact between web3 projects . The web3 company currently has a new strong advisor – the blockchain and venture operator and leading FinTech hub Coinsilium.
Coinsilium will purchase future Metalinq tokens in the initial pre-seed funding at an amount of $200,000 USD. These tokens will be distributed over a period of time by a vesting period backed by the founding team of Indorse Pte. Ltd,- the portfolio company.
In a statement to the press Eddy Travia CEO of Coinsilium spoke on the metaverse and the bold predictions that state the opportunity for the platform to represent a trillion-dollar plus global market opportunity.
”At Coinsilium we have been actively monitoring its evolution from its nascent states til now and we also recognize the enormous potential it holds as a major gateway for mainstream blockchain and Non-Fungible Tokens adoption. One of the key challenges currently facing Metaverse adoption however is its fragmented form and the lack of interoperability between multiple metaverse and its resulting absence of portability of various digital assets, including NFTs, representing virtual land, Play-to-Earn in game assets, etc.”
Mr. Travia went on to state his confidence and the confidence of the company in Metalinq and their ability to address the interoperability issues and build their next-gen Layer 3 interoperability protocol.
Coinsilium will be tasked with providing advisory services which cover strategic developments and partnership and token economics as well. Current holders of Indorse tokens will receive Metalinq tokens in correlation to the amount of their Indorse holdings with certain terms applied while Coinsilium will possess a undisclosed amount of tokens.
Gaurang Torvekar, Chief Tech Lead of Metalinq stated his enthusiasm and excitement for the partnership in a statement:
“We are excited to have secured Coinsilium backing for the Metalinq layer 3 interoperability protocol”
The metaverse and its US $5tn potential was the focus of a McKinsey & Company report that was eventually highlighted by Coinsilium last month.