Portals raises $5 million to build its city in the metaverse

Portals today announced it has raised $5 million in a round of funding. It will put that money towards building its planned visions of a metaverse metropolis, built on the Solana blockchain.

The fundraise was led by Greylock with participation from Multicoin Capital, Solana Ventures, Foundation Capital, Alameda Research, Sino Global Capital, and others. Sarah Guo, Greylock partner, said in a statement, “We see Portals as the most promising browser-based metaverse platform. It is a social space that you can explore, invest in, make your own, and gather with others. We’ve been blown away by the team’s velocity, quality, and vision. Along with a growing community, they’re crafting a fun, dense virtual city people actually want to visit.”

Portals offers users the ability to build their own space within a metaverse space, whether that be a storefront, an office, or another social space. Users have Portals’ digital asset library at their disposal when building the space. Users can invite others to their spaces to socialize with voice chat, or explore the city to enter others’ spaces.

Adam Gomez, co-founder of Portals, said in a statement, “We are building an entirely new Times Square in the metaverse. When players step out of their spaces, we want every block to have hundreds of storefronts and buildings to discover and explore. We are building the metaverse in a browser-first way to make it as widely accessible as possible. With native voice chat and easy tools to customize spaces, we’re lowering the barrier to experience the metaverse.”