Turkiye ranks 12th out of 146 countries in the global crypto adoption index. The interest in blockchain-based technologies in our country has been demonstrated once again with a new investment. Under the leadership of Yildiz Tekno Venture Capital Investment Trust, a group of investors, including Halkbank, Turk Telekom Ventures and Kalyon Ventures, made a seed investment of $11 million in Metatime.
In the 2022 Global Crypto Adoption Index of the crypto-focused analytics platform Chainalysis, Turkiye ranked 12th out of 146 countries. The interest in blockchain-based technologies, one of the rising sub-branches of the financial technology field, has been proven again with a new investment.
Turkish blockchain startup Metatime, which offers blockchain-based smart applications, digital products and hundreds of different services, received a seed investment of $11 million from a group of investors, including investors such as Halkbank, Turk Telekom Ventures and Kalyon Ventures, led by Yildiz Tekno Venture Capital Investment Trust.
Metatime Co-Founder and CEO Yusuf Sevim, who shared his evaluations on the subject,
“Metatime offers the most comprehensive digital ecosystem planned by putting the user at the center. We aim to reach 1 million users as soon as possible with the power of the $11 million seed investment we have received.”
Angel investors from Turkiye, Netherlands and Germany participated in the investment tour
Yildiz Tekno GSYO participated in the seed investment round of the platform, which started to accept its first users with products and services such as crypto money exchange, crypto wallet, blockchain infrastructure, NFT marketplace and stable crypto currency, with an investment of $150 thousand for 1% share. Turkiye’s leading banks and telecommunication companies are among the limited partners of Metatime, which has been operating since 2021 with more than 210 employees.
Expressing that the rest of the financing was provided by 33 secret angel investors in a token round, Yusuf Sevim said, “In the round, which was carried out over MetaCoin (MTC), the crypto currency of the Metatime ecosystem, the first 100 million MTCs were bought at 5 cents, and the other 100 million MTCs at 6 cents in January and February. Investors from Turkiye, Denmark and Germany participated in our first pre-sales.”
Reached 230 thousand users in 4 weeks
Metatime Co-Founder and CEO Yusuf Sevim stated that the development activities have been continuing since 2019 and the project started with an investment of $10 million made by the two founding partners.
“In the pre-sale process, in which we collected $11 million of seed investment, more than 230 thousand users joined the Metatime platform in a 4-week period. Focusing on developing the most comprehensive products and services focused on blockchain, Metatime plans to launch our cryptocurrency exchange, local blockchain network, stable cryptocurrency and MTC cryptocurrency on November 11. Our NFT marketplace and crypto wallet belonging to the Metatime ecosystem will be launched in the first quarter of next year. Starting November 11, 10% of cryptocurrencies owned by our angel investors will be unlocked. We will unlock the remaining 90% of the supply at a daily rate of 0.4% for the 225 days following November 11.
Source: Egirisim / Prepared by Irem Yildiz