With the backing of leading investors, Web 3.0 Innovator Metatime aims to create a comprehensive Web 3.0 ecosystem. The funds raised will go toward expanding Metatime’s product range, including developing a cryptocurrency exchange and a blockchain network. The Web 3.0 firm also has plans to develop multiple products, including MetaNFT Marketplace, MetaLaunchpad, MetaExplorer, MetaWallet, MetaCoin, and MetaStablecoin products.
The seed sales, held before the initial public offering, were backed by leading investors such as Halkbank, Kalyon Holding, Yıldız Technical University, and Türk Telekom, among others. An additional 10 angel investors also took part in the two-stage seed sale.
Investors have displayed a strong interest in owning MetaCoin (MTC) at a fixed price of $0.07, leading to high demand for the first private sale of MTC. In the two-stage seed sale, 10% of the lock for the sold MTC will be opened after the final public offering that will conclude on November 11, 2023.
The remaining 90% will be released linearly for usage beginning on the main launch date, which is also on November 11, 2023, and will be available for 225 days.
Since the public-round sale of MetaTime’s native token, 100 million MetaCoins were already sold (more than 63%). Since yesterday (March 22), MetaTime gained an additional 22,000 registered active accounts and more than 80,000 crypto-registered accounts.
Metatime’s Co-Founder and CEO, Yusuf Sevim, expressed his gratitude to all the seed investors who supported the company: “We are grateful to all the seed investors who supported us. Their investments will help us break new ground in blockchain technology and expand the ecosystem. We started our investment process with the first demand collection on 3 March, and we are very pleased with the interest the campaign has received. We expect this process to help us achieve our goal of creating the world’s most comprehensive Web 3.0 ecosystem.”
Commitment to Integrity with a Transparent Order Book
Metatime is currently developing a blockchain network and a cryptocurrency exchange as part of its Web 3.0 ecosystem. The MetaExchange platform, built on the Metatime ecosystem, is designed for all levels of users and offers a range of Lite, Pro, and Meta versions. MetaExchange’s commitment to integrity includes not assessing commissions for trades that closed at a loss and a copy trading feature for newcomers to emulate experts.
By being the first to provide a fully-transparent order book among centralized cryptocurrency exchanges, MetaExchange aims to demonstrate the accuracy of all transactions and prevent market manipulation.
The recent investment in Metatime’s Web 3.0 ecosystem comes when the cryptocurrency industry faces increased scrutiny over security concerns and market manipulation by centralized exchanges.
With recent scandals surrounding exchanges like FTX, investors seek alternatives offering transparency and integrity. Metatime’s commitment to a completely transparent order book and a Proof of Meta consensus mechanism for network verification and mining provides an alternative to centralized exchanges.
Turkey is Set for Crypto Adoption
Turkey’s inflation rate has been a major economic issue in recent years. In October 2022, Turkey recorded its highest inflation rate of 85.51% during the provided time period. The Consumer Price Index (CPI), which measures the changes in prices of a basket of goods and services typically consumed by households, stood at 55.18 percent as of February 2023. This high inflation rate has made it challenging for people to maintain their purchasing power and has resulted in a significant shift toward alternative currencies such as cryptocurrencies.
Blockchain data platform, Chainalysisa, released its 2022 Global Crypto Adoption Index, and it ranked Turkey 12th in the world in terms of crypto adoption. This suggests that Turkey has a significant number of people who are interested in and actively using cryptocurrencies.
Despite the high level of interest in crypto in Turkey, the market is already crowded with established exchanges such as BtcTurk, Paribu, and Bitay. These exchanges have already gained a significant foothold in the market. Metatime, a new player in the market, will need to find a way to differentiate itself from the competition to succeed.
